Ceres Power (LON:CWR) Reaches New 1-Year Low – Here’s Why

Shares of Ceres Power Holdings plc (LON:CWR) reached a new 52-week low during mid-day trading on Monday . The company traded as low as GBX 58.15 ($0.76) and last traded at GBX 65.15 ($0.85), with a volume of 1263510 shares trading hands. The stock had previously closed at GBX 61.90 ($0.80).

Wall Street Analysts Forecast Growth

Separately, Berenberg Bank reduced their price target on Ceres Power from GBX 650 ($8.45) to GBX 340 ($4.42) and set a “buy” rating on the stock in a research note on Tuesday, February 25th.

Ceres Power Trading Down 1.0 %

The company has a market cap of £133.54 million, a PE ratio of -3.31 and a beta of 1.60. The business has a 50 day simple moving average of GBX 119.68 and a two-hundred day simple moving average of GBX 169.65. The company has a current ratio of 6.48, a quick ratio of 12.18 and a debt-to-equity ratio of 1.54.

Insiders Place Their Bets

In other Ceres Power news, insider Stuart Paynter bought 7,151 shares of the stock in a transaction dated Wednesday, January 29th. The stock was bought at an average cost of GBX 139 ($1.81) per share, for a total transaction of £9,939.89 ($12,922.37). Corporate insiders own 40.29% of the company’s stock.

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.