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% during trading on Friday . The stock traded as low as GBX 68.05 ($0.86) and last traded at GBX 80.55 ($1.02). Approximately 8,976,891 shares traded hands during 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).

Analyst Ratings Changes

Separately, Berenberg Bank restated a "buy" rating and set a GBX 650 ($8.24) target price on shares of Ceres Power in a research note on Wednesday, January 29th.

Ceres Power Trading Up 0.7 %

The business has a fifty day moving average price of GBX 157.82 and a 200 day moving average price of GBX 185.60. The company has a current ratio of 6.48, a quick ratio of 12.18 and a debt-to-equity ratio of 1.54. The firm has a market cap of £158.19 million, a PE ratio of -3.92 and a beta of 1.60.

Insider Transactions at Ceres Power

In other Ceres Power news, insider Dame Julia King bought 30,200 shares of the stock in a transaction dated Thursday, November 28th. The shares were acquired at an average cost of GBX 165 ($2.09) per share, for a total transaction of £49,830 ($63,139.89). Also, insider Stuart Paynter bought 7,151 shares of Ceres Power stock in a transaction dated Wednesday, January 29th. The stock was acquired at an average cost of GBX 139 ($1.76) per share, with a total value of £9,939.89 ($12,594.89). 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.

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