Ceres Power (LON:CWR) Trading Down 40.8% - What's Next?

Ceres Power Holdings plc (LON:CWR - Get Free Report)'s share price dropped 40.8% during trading on Thursday . The stock traded as low as GBX 68.05 ($0.86) and last traded at GBX 77.50 ($0.98). Approximately 29,728,082 shares traded hands during mid-day trading, an increase of 1,463% from the average daily volume of 1,901,677 shares. The stock had previously closed at GBX 131 ($1.66).

Wall Street Analyst Weigh In

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

Ceres Power Trading Down 2.9 %

The company has a quick ratio of 12.18, a current ratio of 6.48 and a debt-to-equity ratio of 1.54. The firm has a 50 day moving average of GBX 156.02 and a 200 day moving average of GBX 184.78. The firm has a market cap of £152.44 million, a PE ratio of -3.78 and a beta of 1.60.

Insider Activity at Ceres Power

In other Ceres Power news, insider Dame Julia King bought 30,200 shares of the stock in a transaction on Thursday, November 28th. The shares were acquired at an average price of GBX 165 ($2.08) per share, with a total value of £49,830 ($62,956.41). Also, insider Stuart Paynter bought 7,151 shares of the stock in a transaction on Wednesday, January 29th. The shares were acquired at an average cost of GBX 139 ($1.76) per share, for a total transaction of £9,939.89 ($12,558.29). 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.