Ceres Power (LON:CWR) Stock Price Down 10.4% – Here’s What Happened

Ceres Power Holdings plc (LON:CWR) shares fell 10.4% during mid-day trading on Thursday . The stock traded as low as GBX 357.80 and last traded at GBX 380.60. Approximately 3,413,161 shares changed hands during mid-day trading, a decline of 68% from the average daily volume of 10,683,211 shares. The stock had previously closed at GBX 424.60.

Analyst Upgrades and Downgrades

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

Ceres Power Trading Down 10.4%

The company has a market capitalization of £813.72 million, a price-to-earnings ratio of -15.52 and a beta of 3.24. The company has a debt-to-equity ratio of 2.24, a quick ratio of 12.18 and a current ratio of 3.27. The business’s 50-day simple moving average is GBX 627.88 and its 200-day simple moving average is GBX 436.42.

Insider Activity

In other Ceres Power news, insider Philip Caldwell sold 456,940 shares of the stock in a transaction dated Thursday, April 30th. The stock was sold at an average price of GBX 622, for a total value of £2,842,166.80. 7.28% of the stock is owned by corporate insiders.

Ceres Power Company Profile

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.