Ceres Power (LON:CWR) Shares Down 36.2% – Should You Sell?

Ceres Power Holdings plc (LON:CWR) fell 36.2% during trading on Thursday . The company traded as low as GBX 68.05 ($0.86) and last traded at GBX 83.55 ($1.05). 33,563,258 shares were traded during mid-day trading, an increase of 1,571% from the average session volume of 2,008,210 shares. The stock had previously closed at GBX 131 ($1.65).

Analyst Ratings Changes

Separately, Berenberg Bank reaffirmed a “buy” rating and issued a GBX 650 ($8.18) target price on shares of Ceres Power in a research report on Wednesday, January 29th.

Ceres Power Price Performance

The company has a market cap of £152.49 million, a price-to-earnings ratio of -3.78 and a beta of 1.60. 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 company’s 50 day moving average price is GBX 159.68 and its 200 day moving average price is GBX 186.33.

Insider Transactions at Ceres Power

In other news, insider Dame Julia King purchased 30,200 shares of the stock in a transaction dated Thursday, November 28th. The stock was acquired at an average cost of GBX 165 ($2.08) per share, for a total transaction of £49,830 ($62,702.91). Also, insider Stuart Paynter purchased 7,151 shares of the stock in a transaction dated Wednesday, January 29th. The shares were purchased at an average price of GBX 139 ($1.75) per share, with a total value of £9,939.89 ($12,507.73). 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.