Ceres Power (LON:CWR) Stock Price Down 40.4% – Here’s Why

Ceres Power Holdings plc (LON:CWR)’s stock price was down 40.4% during trading on Thursday . The stock traded as low as GBX 68.05 ($0.86) and last traded at GBX 78.08 ($0.98). Approximately 28,374,732 shares changed hands during mid-day trading, an increase of 1,422% from the average daily volume of 1,864,084 shares. The stock had previously closed at GBX 131 ($1.65).

Wall Street Analyst Weigh In

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

Ceres Power Stock Performance

The company has a market capitalization of £168.52 million, a PE ratio of -4.18 and a beta of 1.60. The business’s 50-day moving average is GBX 159.68 and its 200-day moving average is GBX 186.33. 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 Activity at Ceres Power

In other Ceres Power news, insider Dame Julia King purchased 30,200 shares of the stock in a transaction that occurred on Thursday, November 28th. The stock was bought 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 acquired 7,151 shares of Ceres Power stock in a transaction on Wednesday, January 29th. The shares were purchased at an average price of GBX 139 ($1.75) per share, with a total value of £9,939.89 ($12,507.73). 40.29% of the stock is currently owned by corporate insiders.

About Ceres Power

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.