Ceres Power (LON:CWR) Stock Passes Below Two Hundred Day Moving Average – Here’s Why

Ceres Power Holdings plc (LON:CWR) crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 202.06 ($2.63) and traded as low as GBX 173.60 ($2.26). Ceres Power shares last traded at GBX 182.50 ($2.38), with a volume of 1,038,223 shares traded.

Analyst Upgrades and Downgrades

Separately, Berenberg Bank reiterated a “buy” rating and set a GBX 650 ($8.46) target price on shares of Ceres Power in a research note on Tuesday, August 6th.

Ceres Power Stock Down 5.6 %

The company’s 50 day simple moving average is GBX 219.18 and its 200-day simple moving average is GBX 202.15. The company has a current ratio of 6.48, a quick ratio of 12.18 and a debt-to-equity ratio of 1.54. The firm has a market cap of £333.50 million, a P/E ratio of -820.48 and a beta of 1.60.

Insider Activity at Ceres Power

In related news, insider Stuart Paynter bought 7,365 shares of the firm’s stock in a transaction on Wednesday, October 2nd. The stock was acquired at an average cost of GBX 270 ($3.51) per share, for a total transaction of £19,885.50 ($25,885.84). 40.29% of the stock is owned by insiders.

Ceres Power Company Profile

Ceres Power Holdings plc engages in the development and commercialization of fuel cell and electrochemical technology in Europe, Asia, North America, and internationally. The company's technology includes Ceres Power, a solid oxide fuel cell technology used for distributed power generation, commercial power, and marine and motive power sectors; and Ceres Hydrogen, a solid oxide electrolyser cell SOEC technology to produce green hydrogen.