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

Ceres Power Holdings plc (LON:CWR)’s stock price fell 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 were traded during trading, an increase of 1,571% from the average session volume of 2,008,210 shares. The stock had previously closed at GBX 131 ($1.65).

Analyst Upgrades and Downgrades

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

Ceres Power Trading Down 36.2 %

The company has a debt-to-equity ratio of 1.54, a current ratio of 6.48 and a quick ratio of 12.18. The firm’s fifty day moving average price is GBX 159.68 and its 200-day moving average price is GBX 186.33. The company has a market cap of £162.87 million, a price-to-earnings ratio of -4.04 and a beta of 1.60.

Insider Buying and Selling at Ceres Power

In other Ceres Power news, insider Dame Julia King purchased 30,200 shares of Ceres Power stock in a transaction on Thursday, November 28th. The stock was bought at an average price of GBX 165 ($2.08) per share, for a total transaction of £49,830 ($62,702.91). Also, insider Stuart Paynter purchased 7,151 shares of the stock in a transaction dated Wednesday, January 29th. The shares were acquired 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 company 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.