Ceres Power (LON:CWR) Stock Price Down 36.2% – Here’s Why

Ceres Power Holdings plc (LON:CWR) shares dropped 36.2% during mid-day trading on Thursday . The stock traded as low as GBX 68.05 ($0.86) and last traded at GBX 83.55 ($1.05). Approximately 33,563,258 shares traded hands during mid-day trading, an increase of 1,571% from the average daily volume of 2,008,210 shares. The stock had previously closed at GBX 131 ($1.65).

Analyst Upgrades and Downgrades

Separately, Berenberg Bank reissued a “buy” rating and set a GBX 650 ($8.18) price objective on shares of Ceres Power in a report on Wednesday, January 29th.

Ceres Power Price Performance

The stock has a market capitalization of £152.49 million, a price-to-earnings ratio of -3.78 and a beta of 1.60. The company has a debt-to-equity ratio of 1.54, a quick ratio of 12.18 and a current ratio of 6.48. The company has a fifty day simple moving average of GBX 159.68 and a 200 day simple moving average of GBX 186.33.

Insider Activity

In related news, insider Dame Julia King acquired 30,200 shares of the firm’s stock in a transaction on Thursday, November 28th. The stock was purchased at an average cost of GBX 165 ($2.08) per share, with a total value of £49,830 ($62,702.91). Also, insider Stuart Paynter bought 7,151 shares of the business’s stock in a transaction dated Wednesday, January 29th. The stock was acquired at an average price of GBX 139 ($1.75) per share, for a total transaction of £9,939.89 ($12,507.73). 40.29% of the stock is owned by company insiders.

Ceres Power Company Profile

Ceres is a leading developer of clean energy technology: electrolysis for the creation of green hydrogen and fuel
cells for power generation. Its asset-light, licensing model has seen it establish partnerships with some of the world’s largest companies, such as Bosch, Doosan, Delta and Weichai. Ceres’ solid oxide technology supports greater electrification of our energy systems and produces green hydrogen at high-efficiencies as a route to decarbonise emissions-intensive industries such as steelmaking, ammonia and future fuels.