Ceres Power (LON:CWR) Shares Down 40.8% – Should You Sell?

Shares of Ceres Power Holdings plc (LON:CWR) traded down 40.8% during mid-day trading on Thursday . The company traded as low as GBX 68.05 ($0.86) and last traded at GBX 77.50 ($0.98). 29,728,082 shares traded hands during trading, an increase of 1,463% from the average session volume of 1,901,677 shares. The stock had previously closed at GBX 131 ($1.65).

Wall Street Analyst Weigh In

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

Ceres Power Stock Performance

The stock has a 50-day simple moving average of GBX 159.68 and a 200-day simple moving average of GBX 186.33. 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 stock has a market cap of £168.52 million, a PE ratio of -4.18 and a beta of 1.60.

Insider Transactions at Ceres Power

In related news, insider Dame Julia King bought 30,200 shares of the firm’s stock in a transaction dated Thursday, November 28th. The stock was bought at an average price of GBX 165 ($2.08) per share, with a total value of £49,830 ($62,702.91). Also, insider Stuart Paynter bought 7,151 shares of the firm’s stock in a transaction dated Wednesday, January 29th. The stock was bought at an average cost 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.

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.