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

Ceres Power Holdings plc (LON:CWR)’s stock price traded down 38.5% on Thursday . The company traded as low as GBX 68.05 ($0.86) and last traded at GBX 80.55 ($1.02). 8,976,891 shares traded hands 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 ($1.66).

Wall Street Analysts Forecast Growth

Separately, Berenberg Bank reaffirmed a “buy” rating and set a GBX 650 ($8.24) price objective on shares of Ceres Power in a research report on Wednesday, January 29th.

Ceres Power Price Performance

The company has a market capitalization of £157.02 million, a PE ratio of -3.89 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. The stock has a 50 day moving average price of GBX 157.82 and a two-hundred day moving average price of GBX 185.60.

Insider Activity at Ceres Power

In other Ceres Power news, insider Stuart Paynter purchased 7,151 shares of the business’s stock in a transaction dated Wednesday, January 29th. The shares were acquired at an average price of GBX 139 ($1.76) per share, for a total transaction of £9,939.89 ($12,594.89). Also, insider Dame Julia King acquired 30,200 shares of Ceres Power stock in a transaction that occurred on Thursday, November 28th. The stock was acquired at an average cost of GBX 165 ($2.09) per share, with a total value of £49,830 ($63,139.89). Insiders own 40.29% of the company’s stock.

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.