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

Shares of 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 ($1.06). 33,563,258 shares traded hands during trading, an increase of 1,571% from the average session volume of 2,008,210 shares. The stock had previously closed at GBX 131 ($1.66).

Wall Street Analyst Weigh In

Separately, Berenberg Bank reissued 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 Stock Performance

The stock 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 current ratio of 6.48, a quick ratio of 12.18 and a debt-to-equity ratio of 1.54. The stock’s 50-day moving average is GBX 156.02 and its 200-day moving average is GBX 184.78.

Insider Activity

In related news, insider Stuart Paynter purchased 7,151 shares of the business’s stock in a transaction that occurred on Wednesday, January 29th. The shares were purchased at an average cost of GBX 139 ($1.76) per share, with a total value of £9,939.89 ($12,558.29). Also, insider Dame Julia King purchased 30,200 shares of Ceres Power stock in a transaction dated Thursday, November 28th. The shares were bought at an average cost of GBX 165 ($2.08) per share, for a total transaction of £49,830 ($62,956.41). 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.