Ceres Power (LON:CWR) Stock Price Crosses Below 200-Day Moving Average – Here’s Why

Ceres Power Holdings plc (LON:CWR)’s stock price crossed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of GBX 188.08 ($2.37) and traded as low as GBX 137 ($1.72). Ceres Power shares last traded at GBX 137 ($1.72), with a volume of 384,785 shares.

Analyst Ratings Changes

Separately, Berenberg Bank reiterated a “buy” rating and set a GBX 650 ($8.18) target price on shares of Ceres Power in a report on Wednesday, January 29th.

Ceres Power Stock Performance

The stock has a market cap of £267.06 million, a PE ratio of -6.62 and a beta of 1.60. The stock has a fifty day simple moving average of GBX 161.95 and a two-hundred day simple moving average of GBX 187.95. The company has a debt-to-equity ratio of 1.54, a quick ratio of 12.18 and a current ratio of 6.48.

Insiders Place Their Bets

In other Ceres Power news, insider Stuart Paynter bought 7,151 shares of the business’s stock in a transaction on Wednesday, January 29th. The shares were bought at an average cost of GBX 139 ($1.75) per share, with a total value of £9,939.89 ($12,510.87). Also, insider Dame Julia King purchased 30,200 shares of the company’s stock in a transaction that occurred on Thursday, November 28th. The shares were purchased at an average cost of GBX 165 ($2.08) per share, for a total transaction of £49,830 ($62,718.69). 40.29% of the stock is owned by company insiders.

About Ceres Power

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.