Ceres Power (LON:CWR) Stock Price Down 40.8% – Here’s What Happened

by · The Markets Daily

Shares of Ceres Power Holdings plc (LON:CWR – Get Free Report) traded down 40.8% during mid-day trading on Thursday . The stock traded as low as GBX 68.05 ($0.86) and last traded at GBX 77.50 ($0.98). 29,728,082 shares changed hands during trading, an increase of 1,463% from the average session volume of 1,901,677 shares. The stock had previously closed at GBX 131 ($1.66).

Wall Street Analysts Forecast Growth

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

Get Our Latest Analysis on CWR

Ceres Power Stock Performance

The stock has a market cap of £152.44 million, a PE ratio of -3.78 and a beta of 1.60. The company has a fifty day moving average price of GBX 156.02 and a 200 day moving average price of GBX 184.78. The company has a quick ratio of 12.18, a current ratio of 6.48 and a debt-to-equity ratio of 1.54.

Insider Activity at Ceres Power

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

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.

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