Ceres Power (LON:CWR) Trading Down 12.5% – Here’s What Happened

Shares of Ceres Power Holdings plc (LON:CWR) traded down 12.5% during mid-day trading on Friday . The stock traded as low as GBX 62.15 ($0.80) and last traded at GBX 62.62 ($0.81). 1,178,544 shares were traded during trading, a decline of 40% from the average session volume of 1,951,336 shares. The stock had previously closed at GBX 71.55 ($0.92).

Analyst Upgrades and Downgrades

Separately, Berenberg Bank dropped 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 report on Tuesday, February 25th.

Ceres Power Stock Performance

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 fifty day simple moving average of GBX 113.58 and a 200-day simple moving average of GBX 167.39. The company has a market cap of £128.37 million, a PE ratio of -3.18 and a beta of 1.60.

Insider Buying and Selling

In related news, insider Stuart Paynter purchased 7,151 shares of the stock in a transaction that occurred on 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.