Ceres Power (LON:CWR) Stock Price Down 38.5% – Time to Sell?

Ceres Power Holdings plc (LON:CWR) was down 38.5% during mid-day trading on Thursday . The stock traded as low as GBX 68.05 ($0.86) and last traded at GBX 80.55 ($1.02). Approximately 8,976,891 shares changed hands during mid-day trading, an increase of 577% from the average daily volume of 1,325,255 shares. The stock had previously closed at GBX 131 ($1.66).

Wall Street Analysts Forecast Growth

Separately, Berenberg Bank restated a “buy” rating and set a GBX 650 ($8.24) price target on shares of Ceres Power in a report on Wednesday, January 29th.

Ceres Power Stock Performance

The company has a quick ratio of 12.18, a current ratio of 6.48 and a debt-to-equity ratio of 1.54. The company has a market capitalization of £157.02 million, a PE ratio of -3.89 and a beta of 1.60. The company has a 50-day moving average price of GBX 159.68 and a two-hundred day moving average price of GBX 186.33.

Insider Buying and Selling at Ceres Power

In other news, insider Dame Julia King purchased 30,200 shares of the company’s stock in a transaction dated Thursday, November 28th. The shares were purchased at an average cost of GBX 165 ($2.09) per share, for a total transaction of £49,830 ($63,139.89). Also, insider Stuart Paynter acquired 7,151 shares of Ceres Power stock in a transaction dated 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 ($12,594.89). Company 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.