Ceres Power (LON:CWR) Shares Down 39% – Should You Sell?

Ceres Power Holdings plc (LON:CWR)’s stock price traded down 39% on Thursday . The stock traded as low as GBX 68.05 ($0.86) and last traded at GBX 79.90 ($1.01). 34,389,582 shares were traded during mid-day trading, an increase of 1,593% from the average session volume of 2,031,163 shares. The stock had previously closed at GBX 131 ($1.66).

Analyst Ratings Changes

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

Ceres Power Stock Down 2.9 %

The firm’s 50 day moving average price is GBX 156.02 and its two-hundred day moving average price is GBX 184.78. The company has a market cap of £152.44 million, a P/E ratio of -3.78 and a beta of 1.60. The company has a debt-to-equity ratio of 1.54, a quick ratio of 12.18 and a current ratio of 6.48.

Insider Activity

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