Ceres Power (LON:CWR) Stock Price Down 40.4% – Time to Sell?

Ceres Power Holdings plc (LON:CWR)’s stock price fell 40.4% during mid-day trading on Thursday . The company traded as low as GBX 68.05 ($0.86) and last traded at GBX 78.08 ($0.99). 28,374,732 shares were traded during trading, an increase of 1,422% from the average session volume of 1,864,084 shares. The stock had previously closed at GBX 131 ($1.66).

Analyst Upgrades and Downgrades

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

Ceres Power Stock Down 2.9 %

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

Insider Activity

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