Ceres Power (LON:CWR) Shares Down 11.1% – Here’s What Happened

Ceres Power Holdings plc (LON:CWR)’s share price fell 11.1% during mid-day trading on Wednesday . The stock traded as low as GBX 51.10 ($0.65) and last traded at GBX 52.10 ($0.67). 1,641,298 shares traded hands during trading, a decline of 20% from the average session volume of 2,054,191 shares. The stock had previously closed at GBX 58.60 ($0.75).

Wall Street Analyst Weigh In

Separately, Berenberg Bank decreased their target price on shares of Ceres Power from GBX 650 ($8.31) to GBX 340 ($4.34) and set a “buy” rating on the stock in a report on Tuesday, February 25th.

Ceres Power Stock Performance

The company has a debt-to-equity ratio of 1.54, a current ratio of 6.48 and a quick ratio of 12.18. The company has a market cap of £101.56 million, a price-to-earnings ratio of -2.52 and a beta of 1.60. The firm has a 50 day simple moving average of GBX 83.65 and a 200-day simple moving average of GBX 153.60.

Insider Buying and Selling

In related news, insider Stuart Paynter bought 7,151 shares of the firm’s stock in a transaction on Wednesday, January 29th. The shares were bought at an average price of GBX 139 ($1.78) per share, with a total value of £9,939.89 ($12,701.11). Corporate 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.