Ceres Power (LON:CWR) Trading Down 36.2% – Should You Sell?

Ceres Power Holdings plc (LON:CWR)’s stock price was 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 ($1.06). 33,563,258 shares traded hands during trading, an increase of 1,571% from the average daily volume of 2,008,210 shares. The stock had previously closed at GBX 131 ($1.66).

Analysts Set New Price Targets

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

Ceres Power Stock 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 company has a market cap of £152.44 million, a PE ratio of -3.78 and a beta of 1.60. 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.

Insider Buying and Selling

In related news, insider Dame Julia King acquired 30,200 shares of the business’s stock in a transaction that occurred on Thursday, November 28th. The stock was purchased at an average cost of GBX 165 ($2.08) per share, for a total transaction of £49,830 ($62,956.41). Also, insider Stuart Paynter bought 7,151 shares of Ceres Power stock in a transaction that occurred on Wednesday, January 29th. The stock was bought at an average cost of GBX 139 ($1.76) per share, for a total transaction of £9,939.89 ($12,558.29). 40.29% of the stock is currently owned by corporate insiders.

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.