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

Ceres Power Holdings plc (LON:CWR)’s stock price was down 38.5% on Thursday . The stock traded as low as GBX 68.05 ($0.86) and last traded at GBX 80.55 ($1.01). Approximately 8,976,891 shares traded hands during trading, an increase of 577% from the average daily volume of 1,325,255 shares. The stock had previously closed at GBX 131 ($1.65).

Analyst Upgrades and Downgrades

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

Ceres Power Price Performance

The business has a 50-day simple moving average of GBX 159.68 and a 200 day simple moving average of GBX 186.33. The stock has a market cap of £157.02 million, a P/E ratio of -3.89 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.

Insiders Place Their Bets

In related news, insider Stuart Paynter acquired 7,151 shares of the firm’s stock in a transaction dated Wednesday, January 29th. The shares were purchased at an average price of GBX 139 ($1.75) per share, for a total transaction of £9,939.89 ($12,507.73). Also, insider Dame Julia King purchased 30,200 shares of Ceres Power stock in a transaction that occurred on Thursday, November 28th. The shares were acquired at an average price of GBX 165 ($2.08) per share, for a total transaction of £49,830 ($62,702.91). Corporate insiders own 40.29% of the company’s stock.

About Ceres Power

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.