Ceres Power (LON:CWR) Shares Pass Below 200-Day Moving Average – Should You Sell?

Ceres Power Holdings plc (LON:CWR) shares crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 202.06 ($2.63) and traded as low as GBX 173.60 ($2.26). Ceres Power shares last traded at GBX 182.50 ($2.38), with a volume of 1,038,223 shares traded.

Wall Street Analysts Forecast Growth

Separately, Berenberg Bank reaffirmed a “buy” rating and set a GBX 650 ($8.46) target price on shares of Ceres Power in a research report on Tuesday, August 6th.

Ceres Power Stock Up 0.3 %

The business’s 50 day simple moving average is GBX 219.46 and its 200 day simple moving average is GBX 201.93. The company has a market capitalization of £354.13 million, a PE ratio of -869.05 and a beta of 1.60. The company has a quick ratio of 12.18, a current ratio of 6.48 and a debt-to-equity ratio of 1.54.

Insider Buying and Selling

In other Ceres Power news, insider Stuart Paynter purchased 7,365 shares of the company’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were purchased at an average cost of GBX 270 ($3.51) per share, with a total value of £19,885.50 ($25,885.84). Company insiders own 40.29% of the company’s stock.

Ceres Power Company Profile

Ceres Power Holdings plc engages in the development and commercialization of fuel cell and electrochemical technology in Europe, Asia, North America, and internationally. The company's technology includes Ceres Power, a solid oxide fuel cell technology used for distributed power generation, commercial power, and marine and motive power sectors; and Ceres Hydrogen, a solid oxide electrolyser cell SOEC technology to produce green hydrogen.