Ceres Power (LON:CWR) Stock Price Down 39% – Should You Sell?

Shares of Ceres Power Holdings plc (LON:CWR) were down 39% during mid-day trading on Thursday . The company traded as low as GBX 68.05 ($0.86) and last traded at GBX 79.96 ($1.01). Approximately 34,326,074 shares changed hands during trading, an increase of 1,591% from the average daily volume of 2,029,399 shares. The stock had previously closed at GBX 131 ($1.66).

Analyst Ratings Changes

Separately, Berenberg Bank reaffirmed a “buy” rating and set a GBX 650 ($8.21) target price on shares of Ceres Power in a research report on Wednesday, January 29th.

Ceres Power Price Performance

The stock’s 50-day moving average is GBX 156.02 and its 200-day moving average is GBX 184.78. The firm has a market cap of £152.44 million, a P/E ratio of -3.78 and a beta of 1.60. The company has a quick ratio of 12.18, a current ratio of 6.48 and a debt-to-equity ratio of 1.54.

Insider Buying and Selling

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