Ceres Power (LON:CWR) Stock Price Down 34.5% – Should You Sell?

Ceres Power Holdings plc (LON:CWR) traded down 34.5% on Thursday . The company traded as low as GBX 68.05 ($0.86) and last traded at GBX 85.79 ($1.08). 33,282,238 shares were traded during trading, an increase of 1,564% from the average session volume of 2,000,404 shares. The stock had previously closed at GBX 131 ($1.65).

Analyst Upgrades and Downgrades

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

Ceres Power Stock Performance

The company’s 50-day simple moving average is GBX 159.68 and its 200-day simple moving average is GBX 186.33. The stock has a market capitalization of £163.07 million, a price-to-earnings ratio of -4.04 and a beta of 1.60. The company has a current ratio of 6.48, a quick ratio of 12.18 and a debt-to-equity ratio of 1.54.

Insider Buying and Selling at Ceres Power

In other Ceres Power news, insider Dame Julia King acquired 30,200 shares of the company’s stock in a transaction dated Thursday, November 28th. The shares were bought at an average cost of GBX 165 ($2.08) per share, with a total value of £49,830 ($62,702.91). Also, insider Stuart Paynter bought 7,151 shares of the firm’s stock in a transaction that occurred on Wednesday, January 29th. The shares were acquired at an average cost of GBX 139 ($1.75) per share, with a total value of £9,939.89 ($12,507.73). Corporate insiders own 40.29% of the company’s stock.

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.