Ceres Power (LON:CWR) Shares Down 38.5% – Here’s Why

Shares of Ceres Power Holdings plc (LON:CWR) were down 38.5% during trading on Friday . The company traded as low as GBX 68.05 ($0.86) and last traded at GBX 80.55 ($1.02). Approximately 8,976,891 shares changed hands during mid-day trading, an increase of 577% from the average daily volume of 1,325,255 shares. The stock had previously closed at GBX 131 ($1.66).

Analyst Upgrades and Downgrades

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

Ceres Power Stock Performance

The company has a market capitalization of £152.44 million, a P/E ratio of -3.78 and a beta of 1.60. The company’s 50 day moving average is GBX 156.02 and its 200-day moving average is GBX 184.64. 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 Ceres Power news, insider Dame Julia King acquired 30,200 shares of the company’s stock in a transaction that occurred on Thursday, November 28th. The shares were bought at an average cost of GBX 165 ($2.08) per share, with a total value of £49,830 ($62,956.41). Also, insider Stuart Paynter purchased 7,151 shares of the company’s stock in a transaction dated Wednesday, January 29th. The shares were bought at an average cost of GBX 139 ($1.76) per share, for a total transaction of £9,939.89 ($12,558.29). 40.29% of the stock is currently owned by company 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.