Ceres Power (LON:CWR) Trading Down 35.6% - Here's Why

Ceres Power Holdings plc (LON:CWR - Get Free Report)'s share price fell 35.6% on Thursday . The stock traded as low as GBX 68.05 ($0.86) and last traded at GBX 84.42 ($1.07). 31,792,707 shares traded hands during mid-day trading, an increase of 1,523% from the average session volume of 1,959,028 shares. The stock had previously closed at GBX 131 ($1.66).

Analyst Upgrades and Downgrades

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

Ceres Power Price Performance

The firm's fifty day simple moving average is GBX 156.02 and its 200 day simple moving average is GBX 184.78. The firm 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 debt-to-equity ratio of 1.54, a quick ratio of 12.18 and a current ratio of 6.48.

Insider Buying and Selling at Ceres Power

In other Ceres Power news, insider Dame Julia King bought 30,200 shares of the firm'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). Also, insider Stuart Paynter bought 7,151 shares of the firm's stock in a transaction dated Wednesday, January 29th. The shares were acquired at an average price of GBX 139 ($1.76) per share, for a total transaction of £9,939.89 ($12,558.29). Insiders own 40.29% of the company's stock.

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.