Ceres Power (LON:CWR) Trading Down 12.5% – Here’s What Happened

Ceres Power Holdings plc (LON:CWR) traded down 12.5% during mid-day trading on Friday . The stock traded as low as GBX 62.15 ($0.80) and last traded at GBX 62.62 ($0.81). 1,178,544 shares traded hands during mid-day trading, a decline of 40% from the average session volume of 1,951,336 shares. The stock had previously closed at GBX 71.55 ($0.92).

Wall Street Analyst Weigh In

Separately, Berenberg Bank reduced their price objective on Ceres Power from GBX 650 ($8.39) to GBX 340 ($4.39) and set a “buy” rating on the stock in a research note on Tuesday, February 25th.

Ceres Power Stock Performance

The firm has a market capitalization of £128.37 million, a price-to-earnings ratio of -3.18 and a beta of 1.60. The firm has a 50 day moving average price of GBX 113.58 and a 200-day moving average price of GBX 167.39. The company has a debt-to-equity ratio of 1.54, a current ratio of 6.48 and a quick ratio of 12.18.

Insider Activity at Ceres Power

In other Ceres Power news, insider Stuart Paynter bought 7,151 shares of the company’s stock in a transaction that occurred on Wednesday, January 29th. The shares were purchased at an average price of GBX 139 ($1.79) per share, with a total value of £9,939.89 ($12,833.94). 40.29% of the stock is currently 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.