Ceres Power (LON:CWR) Stock Price Down 36.2% – Here’s Why

Ceres Power Holdings plc (LON:CWR)’s share price dropped 36.2% during mid-day trading on Thursday . The company traded as low as GBX 68.05 ($0.86) and last traded at GBX 83.55 ($1.05). Approximately 33,563,258 shares traded hands during mid-day trading, an increase of 1,571% from the average daily volume of 2,008,210 shares. The stock had previously closed at GBX 131 ($1.65).

Wall Street Analysts Forecast Growth

Separately, Berenberg Bank reaffirmed a “buy” rating and set a GBX 650 ($8.18) price target on shares of Ceres Power in a research report on Wednesday, January 29th.

Ceres Power Stock Down 40.3 %

The stock has a fifty day moving average of GBX 159.68 and a two-hundred day moving average of GBX 186.33. 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 has a market cap of £152.49 million, a price-to-earnings ratio of -3.78 and a beta of 1.60.

Insider Transactions at Ceres Power

In related news, insider Dame Julia King purchased 30,200 shares of the firm’s stock in a transaction on Thursday, November 28th. The stock was purchased at an average price of GBX 165 ($2.08) per share, for a total transaction of £49,830 ($62,702.91). Also, insider Stuart Paynter bought 7,151 shares of Ceres Power stock in a transaction dated Wednesday, January 29th. The shares were purchased at an average cost of GBX 139 ($1.75) per share, for a total transaction of £9,939.89 ($12,507.73). Company insiders own 40.29% of the company’s stock.

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.