Ceres Power (LON:CWR) Stock Price Down 11.1% - Here's Why

Ceres Power Holdings plc (LON:CWR - Get Free Report) traded down 11.1% during mid-day trading on Thursday . The company traded as low as GBX 51.10 ($0.67) and last traded at GBX 52.10 ($0.69). 1,641,298 shares changed hands during trading, a decline of 20% from the average session volume of 2,054,191 shares. The stock had previously closed at GBX 58.60 ($0.77).

Analyst Upgrades and Downgrades

Separately, Berenberg Bank decreased their price objective on Ceres Power from GBX 650 ($8.57) to GBX 340 ($4.48) and set a "buy" rating on the stock in a report on Tuesday, February 25th.

Ceres Power Trading Up 5.7 %

The business has a fifty day moving average price of GBX 78.13 and a two-hundred day moving average price of GBX 150. 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 capitalization of £119.98 million, a PE ratio of -2.98 and a beta of 1.60.

Insiders Place Their Bets

In other news, insider Stuart Paynter bought 7,151 shares of the business's stock in a transaction on Wednesday, January 29th. The shares were bought at an average price of GBX 139 ($1.83) per share, with a total value of £9,939.89 ($13,106.40). 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.