Ceres Power (LON:CWR) Trading Down 10.4% – Here’s Why

Ceres Power Holdings plc (LON:CWR)’s stock price fell 10.4% during trading on Thursday . The company traded as low as GBX 357.80 and last traded at GBX 380.60. 3,413,161 shares were traded during trading, a decline of 68% from the average session volume of 10,683,211 shares. The stock had previously closed at GBX 424.60.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Jefferies Financial Group reissued a “buy” rating and issued a GBX 920 target price on shares of Ceres Power in a research note on Wednesday, June 10th. Berenberg Bank raised their price target on shares of Ceres Power from GBX 530 to GBX 980 and gave the stock a “buy” rating in a research note on Friday, May 29th. Two analysts have rated the stock with a Buy rating, According to MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of GBX 950.

Ceres Power Trading Down 3.4%

The company has a 50 day moving average of GBX 613.37 and a 200 day moving average of GBX 437.03. The firm has a market cap of £785.92 million, a price-to-earnings ratio of -14.99 and a beta of 3.24. The company has a current ratio of 3.27, a quick ratio of 12.18 and a debt-to-equity ratio of 2.24.

Insider Activity

In other news, insider Philip Caldwell sold 456,940 shares of the business’s stock in a transaction on Thursday, April 30th. The shares were sold at an average price of GBX 622, for a total value of £2,842,166.80. Insiders own 7.28% of the company’s stock.

About Ceres Power

Ceres is a leading developer of clean energy technology: fuel cells for power generation and electrolysers for green hydrogen. Its asset-light, licensing model has seen it establish partnerships with some of the world’s largest companies, such as Doosan, Delta, Denso, Shell, Weichai and Thermax. Ceres’ solid oxide technology supports greater electrification of our energy systems, including AI data centres, commercial and industrial applications, and produces green hydrogen at high efficiencies as a route to decarbonise emissions-intensive industries such as ammonia, steelmaking and electrofuels.