Ceres Power (LON:CWR) Trading Down 35.6% – Time to Sell?

Ceres Power Holdings plc (LON:CWR)’s stock price was down 35.6% during mid-day trading on Thursday . The company traded as low as GBX 68.05 ($0.86) and last traded at GBX 84.42 ($1.07). Approximately 31,792,707 shares were traded during mid-day trading, an increase of 1,523% from the average daily volume of 1,959,028 shares. The stock had previously closed at GBX 131 ($1.66).

Analyst Ratings Changes

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

Ceres Power Trading Down 2.9 %

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 firm’s 50 day simple moving average is GBX 156.02 and its two-hundred day simple moving average is GBX 184.78. The stock has a market cap of £152.44 million, a P/E ratio of -3.78 and a beta of 1.60.

Insider Buying and Selling at Ceres Power

In other news, insider Dame Julia King purchased 30,200 shares of Ceres Power stock in a transaction dated Thursday, November 28th. The stock was bought 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 purchased 7,151 shares of Ceres Power stock in a transaction dated Wednesday, January 29th. The shares were purchased at an average cost of GBX 139 ($1.76) per share, with a total value of £9,939.89 ($12,558.29). 40.29% of the stock is 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.