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

Ceres Power Holdings plc (LON:CWR)’s share price fell 38.5% during mid-day trading 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 changed hands during 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 Analyst Weigh In

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

Ceres Power Price Performance

The stock has a fifty day moving average of GBX 156.02 and a 200 day moving average of GBX 184.78. The stock has a market cap of £152.44 million, a price-to-earnings ratio of -3.78 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 related news, insider Stuart Paynter purchased 7,151 shares of the business’s stock in a transaction on Wednesday, January 29th. The shares were bought at an average cost of GBX 139 ($1.76) per share, with a total value of £9,939.89 ($12,558.29). Also, insider Dame Julia King bought 30,200 shares of the company’s stock in a transaction that occurred on Thursday, November 28th. The shares were bought at an average cost of GBX 165 ($2.08) per share, for a total transaction of £49,830 ($62,956.41). Company 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.