Ceres Power (LON:CWR) Trading Down 39% – Should You Sell?

Ceres Power Holdings plc (LON:CWR)’s stock price dropped 39% during trading on Thursday . The company traded as low as GBX 68.05 ($0.86) and last traded at GBX 79.96 ($1.01). Approximately 34,326,074 shares changed hands during trading, an increase of 1,591% from the average daily volume of 2,029,399 shares. The stock had previously closed at GBX 131 ($1.66).

Analysts Set New Price Targets

Separately, Berenberg Bank reaffirmed a “buy” rating and set a GBX 650 ($8.21) target price on shares of Ceres Power in a report on Wednesday, January 29th.

Ceres Power Trading Down 2.9 %

The company has a debt-to-equity ratio of 1.54, a quick ratio of 12.18 and a current ratio of 6.48. The business has a fifty day simple moving average of GBX 156.02 and a 200 day simple moving average of GBX 184.78. The company has a market cap of £152.44 million, a P/E ratio of -3.78 and a beta of 1.60.

Insider Transactions at Ceres Power

In other Ceres Power news, insider Stuart Paynter bought 7,151 shares of the stock in a transaction that occurred on Wednesday, January 29th. The shares were 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 bought 30,200 shares of the stock in a transaction that occurred on Thursday, November 28th. The stock was acquired at an average price of GBX 165 ($2.08) per share, for a total transaction of £49,830 ($62,956.41). Insiders own 40.29% of the company’s stock.

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.