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

Ceres Power Holdings plc (LON:CWR) shares traded down 38.5% on Friday . The stock 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).

Analyst Upgrades and Downgrades

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

Ceres Power Price Performance

The company has a quick ratio of 12.18, a current ratio of 6.48 and a debt-to-equity ratio of 1.54. The business’s 50-day moving average is GBX 157.82 and its two-hundred day moving average is GBX 185.60. The company has a market capitalization of £158.19 million, a P/E ratio of -3.92 and a beta of 1.60.

Insiders Place Their Bets

In other Ceres Power news, insider Stuart Paynter purchased 7,151 shares of the company’s stock in a transaction that occurred on Wednesday, January 29th. The shares were bought at an average cost of GBX 139 ($1.76) per share, for a total transaction of £9,939.89 ($12,594.89). Also, insider Dame Julia King bought 30,200 shares of the company’s stock in a transaction on Thursday, November 28th. The shares were bought at an average price of GBX 165 ($2.09) per share, for a total transaction of £49,830 ($63,139.89). 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.