Ceres Power (LON:CWR) Stock Price Down 34.5% – Time to Sell?

Shares of Ceres Power Holdings plc (LON:CWR) dropped 34.5% during mid-day trading on Thursday . The company traded as low as GBX 68.05 ($0.86) and last traded at GBX 85.79 ($1.08). Approximately 33,282,238 shares traded hands during trading, an increase of 1,564% from the average daily volume of 2,000,404 shares. The stock had previously closed at GBX 131 ($1.66).

Analyst Upgrades and Downgrades

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

Ceres Power Trading Down 2.9 %

The firm has a market cap of £152.44 million, a price-to-earnings ratio of -3.78 and a beta of 1.60. 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 business has a fifty day moving average of GBX 156.02 and a two-hundred day moving average of GBX 184.78.

Insider Buying and Selling

In related news, insider Dame Julia King bought 30,200 shares of the stock in a transaction on Thursday, November 28th. The shares were purchased at an average price 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 the stock in a transaction on Wednesday, January 29th. The shares were bought at an average price of GBX 139 ($1.76) per share, for a total transaction of £9,939.89 ($12,558.29). 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.