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

Ceres Power Holdings plc (LON:CWR)’s stock price traded down 38.5% during trading 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 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 reiterated a “buy” rating and set a GBX 650 ($8.21) price target on shares of Ceres Power in a report on Wednesday, January 29th.

Ceres Power Trading Down 2.9 %

The company has a market cap of £152.44 million, a P/E ratio of -3.78 and a beta of 1.60. The stock’s 50-day moving average is GBX 156.02 and its two-hundred day moving average is GBX 184.78. The company has a debt-to-equity ratio of 1.54, a current ratio of 6.48 and a quick ratio of 12.18.

Insider Activity at Ceres Power

In related news, insider Stuart Paynter acquired 7,151 shares of the stock in a transaction that occurred on Wednesday, January 29th. The shares were bought at an average price of GBX 139 ($1.76) per share, for a total transaction of £9,939.89 ($12,558.29). Also, insider Dame Julia King acquired 30,200 shares of the 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). 40.29% of the stock is 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.