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

Ceres Power Holdings plc (LON:CWR) traded down 38.5% on Thursday . The company traded as low as GBX 68.05 ($0.86) and last traded at GBX 80.55 ($1.02). 8,976,891 shares were traded during mid-day 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).

Wall Street Analyst Weigh In

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

Ceres Power Stock 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 has a fifty day simple moving average of GBX 156.02 and a two-hundred day simple moving average of GBX 184.78. The stock has a market capitalization of £152.44 million, a price-to-earnings ratio of -3.78 and a beta of 1.60.

Insiders Place Their Bets

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

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.