Ceres Power (LON:CWR) Shares Down 39% – Should You Sell?

Ceres Power Holdings plc (LON:CWR)’s stock price traded down 39% during trading on Thursday . The company traded as low as GBX 68.05 ($0.86) and last traded at GBX 79.90 ($1.01). 34,389,582 shares traded hands during trading, an increase of 1,593% from the average session volume of 2,031,163 shares. The stock had previously closed at GBX 131 ($1.66).

Wall Street Analysts Forecast Growth

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

Ceres Power Trading Down 2.9 %

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 market capitalization of £152.44 million, a P/E ratio of -3.78 and a beta of 1.60. The firm’s fifty day simple moving average is GBX 156.02 and its 200 day simple moving average is GBX 184.78.

Insider Activity

In other Ceres Power news, insider Dame Julia King bought 30,200 shares of the business’s stock in a transaction that occurred on Thursday, November 28th. The shares were acquired 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 business’s stock in a transaction that occurred on Wednesday, January 29th. The shares were acquired at an average price of GBX 139 ($1.76) per share, for a total transaction of £9,939.89 ($12,558.29). 40.29% of the stock is currently owned by corporate 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.