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

Shares of Ceres Power Holdings plc (LON:CWR) were down 38.5% during trading on Thursday . The company traded as low as GBX 68.05 ($0.86) and last traded at GBX 80.55 ($1.01). Approximately 8,976,891 shares traded hands during mid-day trading, an increase of 577% from the average daily volume of 1,325,255 shares. The stock had previously closed at GBX 131 ($1.65).

Analyst Ratings Changes

Separately, Berenberg Bank reiterated a “buy” rating and issued a GBX 650 ($8.18) price objective on shares of Ceres Power in a research report on Wednesday, January 29th.

Ceres Power Stock Performance

The stock has a 50-day moving average of GBX 159.68 and a 200 day moving average of GBX 186.33. The company has a debt-to-equity ratio of 1.54, a current ratio of 6.48 and a quick ratio of 12.18. The stock has a market capitalization of £157.02 million, a price-to-earnings ratio of -3.89 and a beta of 1.60.

Insiders Place Their Bets

In related news, insider Stuart Paynter bought 7,151 shares of Ceres Power stock in a transaction on Wednesday, January 29th. The shares were purchased at an average price of GBX 139 ($1.75) per share, for a total transaction of £9,939.89 ($12,507.73). Also, insider Dame Julia King bought 30,200 shares of Ceres Power stock in a transaction on Thursday, November 28th. The shares were bought at an average price of GBX 165 ($2.08) per share, for a total transaction of £49,830 ($62,702.91). Company insiders own 40.29% of the company’s stock.

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.