Ceres Power (LON:CWR) Hits New 52-Week Low – Should You Sell?

Ceres Power Holdings plc (LON:CWR)’s share price reached a new 52-week low on Thursday . The stock traded as low as GBX 57.20 ($0.74) and last traded at GBX 57.50 ($0.74), with a volume of 41222336 shares traded. The stock had previously closed at GBX 60.70 ($0.78).

Analysts Set New Price Targets

Separately, Berenberg Bank decreased their price objective on shares of Ceres Power from GBX 650 ($8.37) to GBX 340 ($4.38) and set a “buy” rating for the company in a research note on Tuesday, February 25th.

Ceres Power Price Performance

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 cap of £112.09 million, a PE ratio of -2.78 and a beta of 1.60. The business’s fifty day moving average is GBX 107.34 and its 200-day moving average is GBX 164.72.

Insider Buying and Selling

In other news, insider Stuart Paynter acquired 7,151 shares of the stock in a transaction that occurred on Wednesday, January 29th. The shares were acquired at an average cost of GBX 139 ($1.79) per share, for a total transaction of £9,939.89 ($12,797.59). 40.29% of the stock is currently owned by 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.