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

Shares of Ceres Power Holdings plc (LON:CWR) dropped 38.5% on Thursday . The company traded as low as GBX 68.05 ($0.86) and last traded at GBX 80.55 ($1.02). Approximately 8,976,891 shares changed hands during trading, an increase of 577% from the average daily volume of 1,325,255 shares. The stock had previously closed at GBX 131 ($1.66).

Wall Street Analysts Forecast Growth

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

Ceres Power Price Performance

The firm has a market capitalization of £157.02 million, a P/E 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 firm has a 50-day moving average of GBX 157.82 and a 200-day moving average of GBX 185.60.

Insider Transactions at Ceres Power

In related news, insider Dame Julia King acquired 30,200 shares of the company’s stock in a transaction on Thursday, November 28th. The stock was acquired at an average price of GBX 165 ($2.09) per share, with a total value of £49,830 ($63,139.89). Also, insider Stuart Paynter acquired 7,151 shares of the company’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 ($12,594.89). 40.29% of the stock is currently owned by company insiders.

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.