Ceres Power (LON:CWR) Shares Down 38.5% – Should You Sell?

Ceres Power Holdings plc (LON:CWR)’s share price was down 38.5% during trading on Thursday . The stock traded as low as GBX 68.05 ($0.86) and last traded at GBX 80.55 ($1.02). Approximately 8,976,891 shares were traded during trading, an increase of 577% from the average daily volume of 1,325,255 shares. The stock had previously closed at GBX 131 ($1.66).

Analyst Ratings Changes

Separately, Berenberg Bank reissued a “buy” rating and set a GBX 650 ($8.24) target price on shares of Ceres Power in a research report on Wednesday, January 29th.

Ceres Power Trading Down 38.5 %

The company has a market capitalization of £157.02 million, a price-to-earnings ratio of -3.89 and a beta of 1.60. The company has a 50-day moving average price of GBX 157.82 and a 200-day moving average price of GBX 185.60. 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 Activity

In related news, insider Stuart Paynter bought 7,151 shares of Ceres Power stock in a transaction that occurred on Wednesday, January 29th. The stock was acquired at an average price of GBX 139 ($1.76) per share, for a total transaction of £9,939.89 ($12,594.89). Also, insider Dame Julia King purchased 30,200 shares of the business’s stock in a transaction on Thursday, November 28th. The shares were acquired at an average price of GBX 165 ($2.09) per share, with a total value of £49,830 ($63,139.89). 40.29% of the stock is currently owned by company insiders.

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.