Ceres Power (LON:CWR) Stock Price Down 6.9% - Here's What Happened

Shares of Ceres Power Holdings plc (LON:CWR - Get Free Report) dropped 6.9% during trading on Tuesday . The stock traded as low as GBX 53.60 ($0.71) and last traded at GBX 53.60 ($0.71). Approximately 1,019,888 shares traded hands during mid-day trading, a decline of 48% from the average daily volume of 1,957,481 shares. The stock had previously closed at GBX 57.60 ($0.77).

Analysts Set New Price Targets

Separately, Berenberg Bank lowered their price objective on Ceres Power from GBX 650 ($8.67) to GBX 340 ($4.54) and set a "buy" rating on the stock in a research note on Tuesday, February 25th.

Ceres Power Trading Up 3.4 %

The company has a market cap of £118.78 million, a P/E ratio of -2.95 and a beta of 1.60. The firm's 50 day moving average is GBX 64.63 and its two-hundred day moving average is GBX 139.66. 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 Buying and Selling

In other news, insider Stuart Paynter acquired 7,151 shares of the company's stock in a transaction that occurred on Wednesday, January 29th. The shares were acquired at an average price of GBX 139 ($1.85) per share, for a total transaction of £9,939.89 ($13,258.49). 40.29% of the stock is currently owned by insiders.

Ceres Power Company Profile

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.