Ceres Power (LON:CWR) Trading Down 36.2% – Time to Sell?

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

Analyst Ratings Changes

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

Ceres Power Stock Down 37.2 %

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 business has a 50-day moving average price of GBX 159.68 and a 200-day moving average price of GBX 186.33. The stock has a market cap of £160.50 million, a PE ratio of -3.98 and a beta of 1.60.

Insider Buying and Selling

In other Ceres Power news, insider Dame Julia King purchased 30,200 shares of the stock in a transaction that occurred on Thursday, November 28th. The shares were purchased 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 acquired 7,151 shares of the stock in a transaction on Wednesday, January 29th. The shares were bought at an average cost of GBX 139 ($1.75) per share, for a total transaction of £9,939.89 ($12,507.73). 40.29% of the stock is currently owned by insiders.

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.