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

Shares of Ceres Power Holdings plc (LON:CWR) were down 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 traded hands 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).

Analyst Ratings Changes

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

Ceres Power Trading Down 2.9 %

The company has a market cap of £152.44 million, a price-to-earnings ratio of -3.78 and a beta of 1.60. 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 firm’s fifty day moving average price is GBX 156.02 and its 200-day moving average price is GBX 184.78.

Insider Buying and Selling

In related news, insider Dame Julia King acquired 30,200 shares of Ceres Power 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, with a total value of £49,830 ($62,956.41). Also, insider Stuart Paynter acquired 7,151 shares of Ceres Power stock in a transaction that occurred on Wednesday, January 29th. The stock was bought at an average cost of GBX 139 ($1.76) per share, with a total value of £9,939.89 ($12,558.29). Corporate 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.