Ceres Power (LON:CWR) Stock Price Down 36.2% - Here's What Happened

Ceres Power Holdings plc (LON:CWR - Get Free Report) shares dropped 36.2% during mid-day 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 were traded during 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).

Wall Street Analyst Weigh In

Separately, Berenberg Bank reissued a "buy" rating and set a GBX 650 ($8.21) price target on shares of Ceres Power in a research report on Wednesday, January 29th.

Ceres Power Trading Down 2.9 %

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

Insider Activity at Ceres Power

In other news, insider Dame Julia King bought 30,200 shares of Ceres Power stock in a transaction that occurred on Thursday, November 28th. The shares were purchased at an average price of GBX 165 ($2.08) per share, with a total value of £49,830 ($62,956.41). Also, insider Stuart Paynter purchased 7,151 shares of the company's stock in a transaction on Wednesday, January 29th. The stock was bought at an average price of GBX 139 ($1.76) per share, for a total transaction of £9,939.89 ($12,558.29). 40.29% of the stock is owned by corporate 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.