Ceres Power (LON:CWR) Trading Down 36.2% – Time to Sell?

Ceres Power Holdings plc (LON:CWR) fell 36.2% during mid-day trading on Thursday . The stock traded as low as GBX 68.05 ($0.86) and last traded at GBX 83.55 ($1.06). 33,563,258 shares traded hands during trading, an increase of 1,571% from the average session volume of 2,008,210 shares. The stock had previously closed at GBX 131 ($1.66).

Analyst Ratings Changes

Separately, Berenberg Bank reissued a “buy” rating and issued a GBX 650 ($8.21) target price on shares of Ceres Power in a research note on Wednesday, January 29th.

Ceres Power Price Performance

The company has a debt-to-equity ratio of 1.54, a current ratio of 6.48 and a quick ratio of 12.18. The stock has a 50 day simple moving average of GBX 156.02 and a two-hundred day simple moving average of GBX 184.78. The company has a market cap of £152.44 million, a price-to-earnings ratio of -3.78 and a beta of 1.60.

Insider Activity

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 stock was bought at an average price of GBX 139 ($1.76) per share, with a total value of £9,939.89 ($12,558.29). Also, insider Dame Julia King bought 30,200 shares of Ceres Power stock in a transaction on Thursday, November 28th. The stock was acquired at an average price of GBX 165 ($2.08) per share, for a total transaction of £49,830 ($62,956.41). Corporate insiders own 40.29% of the company’s stock.

Ceres Power Company Profile

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.