Ceres Power (LON:CWR) Shares Down 36.2% – Should You Sell?

Ceres Power Holdings plc (LON:CWR) shares fell 36.2% on Thursday . The stock traded as low as GBX 68.05 ($0.86) and last traded at GBX 83.55 ($1.05). 33,563,258 shares changed hands during mid-day trading, an increase of 1,571% from the average session volume of 2,008,210 shares. The stock had previously closed at GBX 131 ($1.65).

Analyst Ratings Changes

Separately, Berenberg Bank reissued a “buy” rating and set a GBX 650 ($8.18) price target on shares of Ceres Power in a 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 firm has a market capitalization of £162.87 million, a P/E ratio of -4.04 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 Transactions at Ceres Power

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

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.