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

Ceres Power Holdings plc (LON:CWR)’s stock price dropped 36.2% during trading on Thursday . The company traded as low as GBX 68.05 ($0.86) and last traded at GBX 83.55 ($1.06). Approximately 33,563,258 shares were traded 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 ($1.66).

Analyst Ratings Changes

Separately, Berenberg Bank restated a “buy” rating and set a GBX 650 ($8.21) price target on shares of Ceres Power in a research report on Wednesday, January 29th.

Ceres Power Stock Performance

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 market capitalization of £152.44 million, a price-to-earnings ratio of -3.78 and a beta of 1.60. The firm has a 50-day simple moving average of GBX 156.02 and a two-hundred day simple moving average of GBX 184.78.

Insider Activity

In other Ceres Power news, insider Stuart Paynter bought 7,151 shares of the business’s stock in a transaction that occurred on Wednesday, January 29th. The shares were purchased at an average cost of GBX 139 ($1.76) per share, with a total value of £9,939.89 ($12,558.29). Also, insider Dame Julia King purchased 30,200 shares of the firm’s stock in a transaction on Thursday, November 28th. The stock was acquired at an average cost of GBX 165 ($2.08) per share, with a total value of £49,830 ($62,956.41). Insiders own 40.29% of the company’s stock.

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.