Ceres Power (LON:CWR) Shares Down 34.9% – Time to Sell?

Shares of Ceres Power Holdings plc (LON:CWR) dropped 34.9% during mid-day trading on Thursday . The company traded as low as GBX 68.05 ($0.86) and last traded at GBX 85.24 ($1.08). Approximately 32,845,063 shares traded hands during trading, an increase of 1,552% from the average daily volume of 1,988,260 shares. The stock had previously closed at GBX 131 ($1.66).

Analyst Upgrades and Downgrades

Separately, Berenberg Bank reaffirmed a “buy” rating and set a GBX 650 ($8.21) target price on shares of Ceres Power in a research report on Wednesday, January 29th.

Ceres Power Trading Down 2.9 %

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 stock has a 50-day simple moving average of GBX 156.02 and a two-hundred day simple moving average of GBX 184.78. The firm has a market capitalization of £152.44 million, a P/E ratio of -3.78 and a beta of 1.60.

Insider Buying and Selling at Ceres Power

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

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.