Ceres Power (LON:CWR) Shares Down 36.2% – Here’s What Happened

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

Analyst Ratings Changes

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

Ceres Power Stock Performance

The firm has a market cap of £162.87 million, a PE ratio of -4.04 and a beta of 1.60. The stock’s 50 day moving average price is GBX 159.68 and its 200 day moving average price is GBX 186.33. The company has a current ratio of 6.48, a quick ratio of 12.18 and a debt-to-equity ratio of 1.54.

Insider Buying and Selling

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