Ceres Power (LON:CWR) Trading Down 38.5% – Time to Sell?

Ceres Power Holdings plc (LON:CWR)’s share price traded down 38.5% during mid-day trading on Thursday . The company traded as low as GBX 68.05 ($0.86) and last traded at GBX 80.55 ($1.02). 8,976,891 shares were traded during trading, an increase of 577% from the average session volume of 1,325,255 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 Stock Down 2.9 %

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

Insider Activity at Ceres Power

In related news, insider Stuart Paynter acquired 7,151 shares of the company’s stock in a transaction on Wednesday, January 29th. The stock was purchased at an average cost of GBX 139 ($1.76) per share, for a total transaction of £9,939.89 ($12,558.29). Also, insider Dame Julia King acquired 30,200 shares of the company’s stock in a transaction on Thursday, November 28th. The shares were bought at an average price of GBX 165 ($2.08) per share, with a total value of £49,830 ($62,956.41). 40.29% of the stock is currently owned by corporate 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.