Ceres Power (LON:CWR) Stock Price Down 36.2% – What’s Next?

Ceres Power Holdings plc (LON:CWR)’s share price was down 36.2% 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 changed hands during 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).

Analysts Set New Price Targets

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

Ceres Power Stock Performance

The firm’s 50 day simple moving average is GBX 159.68 and its 200 day simple moving average is GBX 186.33. The firm 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.

Insider Buying and Selling at Ceres Power

In other Ceres Power news, insider Dame Julia King purchased 30,200 shares of Ceres Power stock in a transaction that occurred on Thursday, November 28th. The stock was bought at an average price of GBX 165 ($2.08) per share, with a total value of £49,830 ($62,702.91). Also, insider Stuart Paynter acquired 7,151 shares of the company’s stock in a transaction on Wednesday, January 29th. The stock was acquired at an average cost 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 corporate 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.