Ceres Power (LON:CWR) Shares Down 9% - What's Next?

Ceres Power Holdings plc (LON:CWR - Get Free Report)'s stock price fell 9% during mid-day trading on Friday . The company traded as low as GBX 61.55 ($0.79) and last traded at GBX 65.10 ($0.84). 2,394,166 shares were traded during mid-day trading, an increase of 21% from the average session volume of 1,972,663 shares. The stock had previously closed at GBX 71.55 ($0.92).

Analysts Set New Price Targets

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

Ceres Power Trading Down 8.0 %

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 stock has a 50 day simple moving average of GBX 113.58 and a 200-day simple moving average of GBX 167.39. The firm has a market cap of £128.37 million, a P/E ratio of -3.18 and a beta of 1.60.

Insiders Place Their Bets

In related news, insider Stuart Paynter bought 7,151 shares of the business's stock in a transaction dated Wednesday, January 29th. The shares were purchased at an average price of GBX 139 ($1.79) per share, with a total value of £9,939.89 ($12,833.94). Corporate 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.