Ceres Power Holdings plc (LON:CWR - Get Free Report)'s share price dropped 36.2% during trading on Thursday . The stock traded as low as GBX 68.05 ($0.86) and last traded at GBX 83.55 ($1.06). 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 ($1.66).
Analysts Set New Price Targets
Separately, Berenberg Bank reaffirmed a "buy" rating and issued a GBX 650 ($8.21) price objective on shares of Ceres Power in a research report on Wednesday, January 29th.
Check Out Our Latest Stock Analysis on Ceres Power
Ceres Power Stock Down 2.9 %
The company has a 50-day simple moving average of GBX 156.02 and a 200 day simple moving average of GBX 184.78. The company has a market cap of £152.44 million, a P/E ratio of -3.78 and a beta of 1.60. The company has a current ratio of 6.48, a quick ratio of 12.18 and a debt-to-equity ratio of 1.54.
Insider Buying and Selling at Ceres Power
In other news, insider Stuart Paynter purchased 7,151 shares of the company's stock in a transaction dated Wednesday, January 29th. The shares were acquired at an average price of GBX 139 ($1.76) per share, with a total value of £9,939.89 ($12,558.29). Also, insider Dame Julia King purchased 30,200 shares of the company's stock in a transaction dated Thursday, November 28th. The shares were purchased at an average cost of GBX 165 ($2.08) per share, for a total transaction of £49,830 ($62,956.41). 40.29% of the stock is currently owned by corporate insiders.
About Ceres Power
(
Get Free Report)
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.
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