Ceres Power (LON:CWR) Share Price Crosses Below 200-Day Moving Average – Time to Sell?

Ceres Power Holdings plc (LON:CWR)’s stock price passed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of GBX 117.36 ($1.57) and traded as low as GBX 69.59 ($0.93). Ceres Power shares last traded at GBX 71.75 ($0.96), with a volume of 361,172 shares traded.

Analysts Set New Price Targets

Separately, Berenberg Bank dropped their price objective on shares of Ceres Power from GBX 650 ($8.72) to GBX 340 ($4.56) and set a “buy” rating on the stock in a report on Tuesday, February 25th.

Ceres Power Trading Down 2.9%

The company has a quick ratio of 12.18, a current ratio of 6.48 and a debt-to-equity ratio of 1.54. The business’s fifty day moving average is GBX 61.82 and its 200 day moving average is GBX 117.36. The firm has a market capitalization of £135.88 million, a price-to-earnings ratio of -3.37 and a beta of 1.60.

Insider Activity at Ceres Power

In other Ceres Power news, insider Stuart Paynter bought 33,166 shares of the firm’s stock in a transaction that occurred on Friday, April 25th. The stock was acquired at an average price of GBX 60 ($0.80) per share, with a total value of £19,899.60 ($26,685.80). 40.29% of the stock is owned by 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.