Ceres Power (LON:CWR) Trading Down 38.5% - Here's Why

Ceres Power Holdings plc (LON:CWR - Get Free Report)'s stock price dropped 38.5% during mid-day 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 were traded 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 Upgrades and Downgrades

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

Ceres Power Stock Performance

The company has a debt-to-equity ratio of 1.54, a quick ratio of 12.18 and a current ratio of 6.48. The firm's 50-day moving average price is GBX 157.82 and its two-hundred day moving average price is GBX 185.60. The firm has a market capitalization of £156.34 million, a price-to-earnings ratio of -3.88 and a beta of 1.60.

Insider Activity

In other news, insider Stuart Paynter purchased 7,151 shares of Ceres Power stock in a transaction on Wednesday, January 29th. The shares were purchased at an average cost of GBX 139 ($1.76) per share, for a total transaction of £9,939.89 ($12,594.89). Also, insider Dame Julia King purchased 30,200 shares of Ceres Power stock in a transaction on Thursday, November 28th. The stock was purchased at an average price of GBX 165 ($2.09) per share, for a total transaction of £49,830 ($63,139.89). 40.29% of the stock is owned by company 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.

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