Ceres Power (LON:CWR) Shares Down 39% – Here’s What Happened

Ceres Power Holdings plc (LON:CWR) shares fell 39% on Thursday . The company traded as low as GBX 68.05 ($0.86) and last traded at GBX 79.96 ($1.01). 34,326,074 shares were traded during trading, an increase of 1,591% from the average session volume of 2,029,399 shares. The stock had previously closed at GBX 131 ($1.65).

Analyst Upgrades and Downgrades

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

Ceres Power Stock Down 38.5 %

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 £157.02 million, a price-to-earnings ratio of -3.89 and a beta of 1.60. The business’s fifty day moving average is GBX 159.68 and its two-hundred day moving average is GBX 186.33.

Insider Activity at Ceres Power

In other news, insider Dame Julia King purchased 30,200 shares of the stock in a transaction on Thursday, November 28th. The stock was bought 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 purchased 7,151 shares of the stock in a transaction on Wednesday, January 29th. The shares were purchased at an average price of GBX 139 ($1.75) per share, with a total value 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.