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

Ceres Power Holdings plc (LON:CWR)’s stock price dropped 38.5% 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).

Analysts Set New Price Targets

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

Ceres Power Stock Performance

The stock has a market capitalization of £152.44 million, a PE ratio of -3.78 and a beta of 1.60. The business’s 50 day moving average is GBX 156.02 and its 200 day moving average is GBX 184.78. The company has a current ratio of 6.48, a quick ratio of 12.18 and a debt-to-equity ratio of 1.54.

Insiders Place Their Bets

In other Ceres Power news, insider Dame Julia King acquired 30,200 shares of the business’s stock in a transaction on Thursday, November 28th. The shares were bought at an average price of GBX 165 ($2.08) per share, with a total value of £49,830 ($62,956.41). Also, insider Stuart Paynter bought 7,151 shares of the firm’s stock in a transaction dated Wednesday, January 29th. The shares were acquired at an average price of GBX 139 ($1.76) per share, with a total value of £9,939.89 ($12,558.29). 40.29% of the stock is owned by 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.