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

Ceres Power Holdings plc (LON:CWR) shares traded down 38.5% during trading 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 changed 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 Ratings Changes

Separately, Berenberg Bank reaffirmed a “buy” rating and set a GBX 650 ($8.24) target price on shares of Ceres Power in a report on Wednesday, January 29th.

Ceres Power Price Performance

The company’s fifty day moving average price is GBX 159.68 and its 200 day moving average price is GBX 186.33. The company has a market capitalization of £157.02 million, a P/E ratio of -3.89 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.

Insider Activity at Ceres Power

In other news, insider Stuart Paynter acquired 7,151 shares of the firm’s 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, with a total value of £9,939.89 ($12,594.89). Also, insider Dame Julia King bought 30,200 shares of the firm’s stock in a transaction on Thursday, November 28th. The shares were bought at an average cost of GBX 165 ($2.09) per share, for a total transaction of £49,830 ($63,139.89). 40.29% of the stock is currently owned by insiders.

About Ceres Power

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.