Ceres Power (LON:CWR) Trading Down 37.6% – Time to Sell?

Ceres Power Holdings plc (LON:CWR) shares fell 37.6% on Thursday . The company traded as low as GBX 68.05 ($0.86) and last traded at GBX 81.75 ($1.03). 78,442,344 shares traded hands during trading, an increase of 2,310% from the average session volume of 3,254,851 shares. The stock had previously closed at GBX 131 ($1.65).

Analyst Upgrades and Downgrades

Separately, Berenberg Bank reiterated a “buy” rating and issued a GBX 650 ($8.18) price objective on shares of Ceres Power in a research note 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 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 has a market cap of £157.02 million, a price-to-earnings ratio of -3.89 and a beta of 1.60.

Insiders Place Their Bets

In other news, insider Stuart Paynter bought 7,151 shares of Ceres Power stock in a transaction dated Wednesday, January 29th. The stock was 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 acquired 30,200 shares of Ceres Power stock in a transaction on Thursday, November 28th. The stock was purchased at an average cost of GBX 165 ($2.08) per share, with a total value of £49,830 ($62,702.91). Corporate 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.