Ceres Power (LON:CWR) Stock Price Down 36.2% – Time to Sell?

Ceres Power Holdings plc (LON:CWR) shares traded down 36.2% during trading on Thursday . The stock traded as low as GBX 68.05 ($0.86) and last traded at GBX 83.55 ($1.06). 33,563,258 shares were traded during mid-day trading, an increase of 1,571% from the average session volume of 2,008,210 shares. The stock had previously closed at GBX 131 ($1.66).

Wall Street Analysts Forecast Growth

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

Ceres Power Stock Performance

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 156.02 and a 200-day moving average of GBX 184.78. The stock has a market capitalization of £152.44 million, a PE ratio of -3.78 and a beta of 1.60.

Insider Transactions at Ceres Power

In related news, insider Stuart Paynter purchased 7,151 shares of the company’s stock in a transaction dated Wednesday, January 29th. The shares were acquired 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 acquired 30,200 shares of Ceres Power stock in a transaction that occurred on Thursday, November 28th. The shares were purchased at an average cost of GBX 165 ($2.08) per share, with a total value of £49,830 ($62,956.41). 40.29% of the stock is owned by insiders.

Ceres Power Company Profile

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.