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

Shares of Ceres Power Holdings plc (LON:CWR) traded down 36.2% during trading on Thursday . The stock traded as low as GBX 68.05 ($0.86) and last traded at GBX 83.55 ($1.05). 33,563,258 shares were traded during mid-day trading, an increase of 1,571% from the average session volume of 2,008,210 shares. The stock had previously closed at GBX 131 ($1.65).

Analyst Ratings Changes

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

Ceres Power Trading Down 40.3 %

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 company has a market capitalization of £152.49 million, a P/E ratio of -3.78 and a beta of 1.60. The firm has a fifty day moving average price of GBX 159.68 and a 200-day moving average price of GBX 186.33.

Insider Buying and Selling at Ceres Power

In other Ceres Power news, insider Dame Julia King acquired 30,200 shares of Ceres Power stock in a transaction that occurred on Thursday, November 28th. The stock was acquired at an average cost of GBX 165 ($2.08) per share, for a total transaction of £49,830 ($62,702.91). Also, insider Stuart Paynter bought 7,151 shares of the company’s stock in a transaction on Wednesday, January 29th. The shares were bought at an average price of GBX 139 ($1.75) per share, for a total transaction 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.