Ceres Power (LON:CWR) Stock Price Down 38.5% – What’s Next?

by · The Cerbat Gem

Ceres Power Holdings plc (LON:CWR – Get Free Report) shares traded down 38.5% on Thursday . The company 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 mid-day 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).

Wall Street Analysts Forecast Growth

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

View Our Latest Research Report on Ceres Power

Ceres Power Trading Down 2.9 %

The firm has a market cap of £152.44 million, a PE ratio of -3.78 and a beta of 1.60. The company has a quick ratio of 12.18, a current ratio of 6.48 and a debt-to-equity ratio of 1.54. The stock’s fifty day simple moving average is GBX 156.02 and its two-hundred day simple moving average is GBX 184.78.

Insiders Place Their Bets

In other news, insider Dame Julia King purchased 30,200 shares of the business’s stock in a transaction dated 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 ($62,956.41). Also, insider Stuart Paynter purchased 7,151 shares of the business’s stock in a transaction dated Wednesday, January 29th. The shares were purchased at an average price of GBX 139 ($1.76) per share, for a total transaction of £9,939.89 ($12,558.29). Corporate insiders own 40.29% of the company’s stock.

Ceres Power Company Profile

(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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