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

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

Analyst Ratings Changes

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

Ceres Power Price Performance

The company has a debt-to-equity ratio of 1.54, a quick ratio of 12.18 and a current ratio of 6.48. The stock’s 50-day moving average is GBX 157.82 and its 200 day moving average is GBX 185.60. The stock has a market capitalization of £157.02 million, a PE ratio of -3.89 and a beta of 1.60.

Insider Buying and Selling

In other news, insider Dame Julia King bought 30,200 shares of Ceres Power stock in a transaction dated Thursday, November 28th. The stock was bought at an average price 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 that occurred on 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). 40.29% of the stock is owned by company 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.