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

Ceres Power Holdings plc (LON:CWR) shares fell 38.5% during mid-day trading on Thursday . The stock traded as low as GBX 68.05 ($0.86) and last traded at GBX 80.55 ($1.02). 8,976,891 shares changed hands during mid-day 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 restated a “buy” rating and issued a GBX 650 ($8.24) target price on shares of Ceres Power in a research note on Wednesday, January 29th.

Ceres Power Stock Performance

The stock has a market capitalization of £157.02 million, a P/E ratio of -3.89 and a beta of 1.60. The company has a 50 day simple moving average of GBX 157.82 and a 200-day simple moving average of GBX 185.60. 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 at Ceres Power

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