Ceres Power (LON:CWR) Trading Down 9.2% - Here's What Happened

Shares of Ceres Power Holdings plc (LON:CWR - Get Free Report) traded down 9.2% on Friday . The company traded as low as GBX 61.55 ($0.79) and last traded at GBX 64.95 ($0.84). 1,987,114 shares changed hands during mid-day trading, an increase of 1% from the average session volume of 1,965,522 shares. The stock had previously closed at GBX 71.55 ($0.92).

Analysts Set New Price Targets

Separately, Berenberg Bank dropped their target price on Ceres Power from GBX 650 ($8.39) to GBX 340 ($4.39) and set a "buy" rating on the stock in a research report on Tuesday, February 25th.

Ceres Power Trading Down 7.8 %

The company has a quick ratio of 12.18, a current ratio of 6.48 and a debt-to-equity ratio of 1.54. The firm has a market capitalization of £118.33 million, a PE ratio of -2.94 and a beta of 1.60. The stock's fifty day simple moving average is GBX 113.58 and its 200 day simple moving average is GBX 167.25.

Insiders Place Their Bets

In related news, insider Stuart Paynter bought 7,151 shares of the business's stock in a transaction that occurred on Wednesday, January 29th. The stock was bought at an average cost of GBX 139 ($1.79) per share, with a total value of £9,939.89 ($12,835.60). Company 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.