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

by · The Markets Daily

Ceres Power Holdings plc (LON:CWR – Get Free Report)’s stock price fell 38.5% on Thursday . The stock traded as low as GBX 68.05 ($0.86) and last traded at GBX 80.55 ($1.02). 8,976,891 shares traded hands during trading, an increase of 577% from the average session volume of 1,325,255 shares. The stock had previously closed at GBX 131 ($1.66).

Analyst Upgrades and Downgrades

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

Read Our Latest Research Report on CWR

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 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 fifty day moving average price of GBX 156.02 and a two-hundred day moving average price of GBX 184.78.

Insider Transactions at Ceres Power

In related news, insider Stuart Paynter bought 7,151 shares of Ceres Power stock in a transaction that occurred on Wednesday, January 29th. The shares were acquired at an average cost of GBX 139 ($1.76) per share, for a total transaction of £9,939.89 ($12,558.29). Also, insider Dame Julia King bought 30,200 shares of Ceres Power stock in a transaction that occurred on Thursday, November 28th. The stock was bought at an average price of GBX 165 ($2.08) per share, for a total transaction of £49,830 ($62,956.41). Company insiders own 40.29% of the company’s stock.

About Ceres Power

(Get Free Report)

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.

Read More