Ceres Power (LON:CWR) Shares Down 40.8% – Time to Sell?

Ceres Power Holdings plc (LON:CWR) shares dropped 40.8% during trading on Thursday . The company traded as low as GBX 68.05 ($0.86) and last traded at GBX 77.50 ($0.98). Approximately 29,728,082 shares traded hands during mid-day trading, an increase of 1,463% from the average daily volume of 1,901,677 shares. The stock had previously closed at GBX 131 ($1.65).

Analyst Ratings Changes

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

Ceres Power Price Performance

The business has a fifty day moving average of GBX 159.68 and a 200 day moving average of GBX 186.33. The stock has a market cap of £168.52 million, a PE ratio of -4.18 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.

Insider Buying and Selling at Ceres Power

In other news, insider Dame Julia King acquired 30,200 shares of the business’s stock in a transaction on Thursday, November 28th. The shares were purchased at an average price of GBX 165 ($2.08) per share, for a total transaction of £49,830 ($62,702.91). Also, insider Stuart Paynter acquired 7,151 shares of the business’s 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). 40.29% of the stock is currently owned by 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.