Ceres Power (LON:CWR) Shares Down 11.1% - Here's What Happened

Ceres Power Holdings plc (LON:CWR - Get Free Report) shares fell 11.1% during mid-day trading on Thursday . The stock traded as low as GBX 51.10 ($0.67) and last traded at GBX 52.10 ($0.69). Approximately 1,641,298 shares were traded during mid-day trading, a decline of 20% from the average session volume of 2,054,191 shares. The stock had previously closed at GBX 58.60 ($0.77).

Analyst Upgrades and Downgrades

Separately, Berenberg Bank decreased their price objective on shares of Ceres Power from GBX 650 ($8.57) to GBX 340 ($4.48) and set a "buy" rating on the stock in a report on Tuesday, February 25th.

Ceres Power Trading Up 5.2 %

The business's 50-day moving average price is GBX 78.13 and its two-hundred day moving average price is GBX 150. The company has a debt-to-equity ratio of 1.54, a current ratio of 6.48 and a quick ratio of 12.18. The company has a market capitalization of £119.40 million, a price-to-earnings ratio of -2.96 and a beta of 1.60.

Insider Transactions at Ceres Power

In other Ceres Power news, insider Stuart Paynter acquired 7,151 shares of the company's stock in a transaction that occurred on Wednesday, January 29th. The stock was acquired at an average price of GBX 139 ($1.83) per share, for a total transaction of £9,939.89 ($13,106.40). 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.