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

Ceres Power Holdings plc (LON:CWR) fell 38.5% during mid-day trading on Thursday . The stock traded as low as GBX 68.05 ($0.86) and last traded at GBX 80.55 ($1.01). 8,976,891 shares were traded during mid-day trading, an increase of 577% from the average session volume of 1,325,255 shares. The stock had previously closed at GBX 131 ($1.65).

Wall Street Analyst Weigh In

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

Ceres Power Stock Down 38.5 %

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 business’s 50-day moving average is GBX 159.68 and its 200-day moving average is GBX 186.33. The company has a market capitalization of £157.02 million, a price-to-earnings ratio of -3.89 and a beta of 1.60.

Insider Activity at Ceres Power

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

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.