Ceres Power (LON:CWR) Stock Price Down 40.4% – Time to Sell?

Ceres Power Holdings plc (LON:CWR) dropped 40.4% during trading on Thursday . The company traded as low as GBX 68.05 ($0.86) and last traded at GBX 78.08 ($0.99). Approximately 28,374,732 shares traded hands during mid-day trading, an increase of 1,422% from the average daily volume of 1,864,084 shares. The stock had previously closed at GBX 131 ($1.66).

Wall Street Analyst Weigh In

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

Ceres Power Stock Down 2.9 %

The business has a 50 day moving average of GBX 156.02 and a 200 day moving average of GBX 184.78. 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 firm 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 Dame Julia King acquired 30,200 shares of the company’s stock in a transaction 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 the stock in a transaction dated Wednesday, January 29th. The stock was acquired at an average price of GBX 139 ($1.76) per share, with a total value of £9,939.89 ($12,558.29). Corporate 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.