Ceres Power (LON:CWR) Stock Price Down 34.5% – Time to Sell?

Ceres Power Holdings plc (LON:CWR)’s stock price fell 34.5% during trading on Thursday . The stock traded as low as GBX 68.05 ($0.86) and last traded at GBX 85.79 ($1.08). 33,282,238 shares changed hands during mid-day trading, an increase of 1,564% from the average session volume of 2,000,404 shares. The stock had previously closed at GBX 131 ($1.66).

Wall Street Analyst Weigh In

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

Ceres Power Stock Down 2.9 %

The firm has a 50 day moving average price of GBX 156.02 and a two-hundred day moving average price of GBX 184.78. 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 company has a market capitalization of £152.44 million, a price-to-earnings ratio of -3.78 and a beta of 1.60.

Insider Activity

In other Ceres Power news, insider Dame Julia King bought 30,200 shares of the stock in a transaction dated Thursday, November 28th. The stock was bought at an average cost of GBX 165 ($2.08) per share, for a total transaction of £49,830 ($62,956.41). Also, insider Stuart Paynter bought 7,151 shares of the 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). 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.