Ceres Power (LON:CWR) Stock Price Down 9% – Should You Sell?

Ceres Power Holdings plc (LON:CWR)’s share price was down 9% during trading on Friday . The stock traded as low as GBX 61.55 ($0.80) and last traded at GBX 65.10 ($0.84). Approximately 2,394,166 shares changed hands during mid-day trading, an increase of 21% from the average daily volume of 1,972,663 shares. The stock had previously closed at GBX 71.55 ($0.93).

Wall Street Analysts Forecast Growth

Separately, Berenberg Bank dropped their price target on shares of Ceres Power from GBX 650 ($8.43) to GBX 340 ($4.41) and set a “buy” rating on the stock in a research note on Tuesday, February 25th.

Ceres Power Trading Down 9.0 %

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 firm has a market capitalization of £126.90 million, a PE ratio of -3.15 and a beta of 1.60. The business’s 50-day moving average price is GBX 115.64 and its 200-day moving average price is GBX 168.30.

Insider Transactions at Ceres Power

In other Ceres Power news, insider Stuart Paynter bought 7,151 shares of the stock in a transaction dated Wednesday, January 29th. The shares were acquired at an average cost of GBX 139 ($1.80) per share, for a total transaction of £9,939.89 ($12,888.86). 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.