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Ceres Power (LON:CWR) Stock Price Down 6.9% - Here's Why

Ceres Power logo with Industrials background

Ceres Power Holdings plc (LON:CWR - Get Free Report)'s share price fell 6.9% during trading on Tuesday . The stock traded as low as GBX 53.60 ($0.71) and last traded at GBX 53.60 ($0.71). 1,019,888 shares were traded during mid-day trading, a decline of 48% from the average session volume of 1,957,481 shares. The stock had previously closed at GBX 57.60 ($0.77).

Analyst Upgrades and Downgrades

Separately, Berenberg Bank cut their target price on shares of Ceres Power from GBX 650 ($8.64) to GBX 340 ($4.52) and set a "buy" rating for the company in a report on Tuesday, February 25th.

View Our Latest Stock Analysis on CWR

Ceres Power Stock Performance

The firm has a market capitalization of £118.78 million, a PE ratio of -2.95 and a beta of 1.60. The firm's 50 day moving average price is GBX 63.13 and its 200-day moving average price is GBX 135.91. The company has a debt-to-equity ratio of 1.54, a quick ratio of 12.18 and a current ratio of 6.48.

Insider Transactions at Ceres Power

In related news, insider Stuart Paynter purchased 7,151 shares of Ceres Power stock in a transaction that occurred on Wednesday, January 29th. The stock was purchased at an average price of GBX 139 ($1.85) per share, for a total transaction of £9,939.89 ($13,219.70). Corporate insiders own 40.29% of the company's stock.

About Ceres Power

(Get Free Report)

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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