Ceres Power (LON:CWR) Stock Price Down 38.5% – Time to Sell?

Shares of Ceres Power Holdings plc (LON:CWR) 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 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).

Analysts Set New Price Targets

Separately, Berenberg Bank reaffirmed a “buy” rating and set 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 two-hundred day moving average of GBX 184.78. The stock has a market capitalization of £152.44 million, a price-to-earnings ratio of -3.78 and a beta of 1.60. The company has a current ratio of 6.48, a quick ratio of 12.18 and a debt-to-equity ratio of 1.54.

Insider Activity at Ceres Power

In other news, insider Stuart Paynter acquired 7,151 shares of the firm’s stock in a transaction on Wednesday, January 29th. The shares were purchased at an average cost of GBX 139 ($1.76) per share, for a total transaction of £9,939.89 ($12,558.29). Also, insider Dame Julia King acquired 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 ($62,956.41). 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.