Ceres Power (LON:CWR) Hits New 12-Month Low – Time to Sell?

Shares of Ceres Power Holdings plc (LON:CWR) hit a new 52-week low on Monday . The company traded as low as GBX 60 ($0.78) and last traded at GBX 61.10 ($0.79), with a volume of 620174 shares trading hands. The stock had previously closed at GBX 62.65 ($0.81).

Wall Street Analysts Forecast Growth

Separately, Berenberg Bank dropped their target price on Ceres Power from GBX 650 ($8.42) to GBX 340 ($4.40) and set a “buy” rating on the stock in a research report on Tuesday, February 25th.

Ceres Power Stock Performance

The firm’s fifty day simple moving average is GBX 131.26 and its 200 day simple moving average is GBX 174.07. The company has a market capitalization of £117.94 million, a PE ratio of -2.93 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 Transactions at Ceres Power

In other news, insider Stuart Paynter bought 7,151 shares of the firm’s stock in a transaction that occurred on Wednesday, January 29th. The stock was purchased at an average cost of GBX 139 ($1.80) per share, for a total transaction of £9,939.89 ($12,868.84). 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.