Ceres Power (LON:CWR) Stock Price Down 38.5% - What's Next?

Ceres Power Holdings plc (LON:CWR - Get Free Report) shares dropped 38.5% on Thursday . The company traded as low as GBX 68.05 ($0.86) and last traded at GBX 80.55 ($1.02). Approximately 8,976,891 shares were traded during mid-day trading, an increase of 577% from the average daily volume of 1,325,255 shares. The stock had previously closed at GBX 131 ($1.66).

Analysts Set New Price Targets

Separately, Berenberg Bank reduced their target price on shares of Ceres Power from GBX 650 ($8.24) to GBX 340 ($4.31) and set a "buy" rating on the stock in a report on Tuesday.

Ceres Power Stock Performance

The business has a 50 day moving average price of GBX 150.06 and a two-hundred day moving average price of GBX 182.13. 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 stock has a market cap of £138.41 million, a PE ratio of -3.43 and a beta of 1.60.

Insider Buying and Selling at Ceres Power

In related news, insider Stuart Paynter acquired 7,151 shares of the firm's stock in a transaction on Wednesday, January 29th. The stock was acquired at an average cost of GBX 139 ($1.76) per share, for a total transaction of £9,939.89 ($12,606.07). 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.