Ceres Power (LON:CWR) Stock Price Down 40.4% – Time to Sell?

Ceres Power Holdings plc (LON:CWR)’s stock price fell 40.4% during trading on Thursday . The stock traded as low as GBX 68.05 ($0.86) and last traded at GBX 78.08 ($0.99). 28,374,732 shares changed hands during mid-day trading, an increase of 1,422% from the average session volume of 1,864,084 shares. The stock had previously closed at GBX 131 ($1.66).

Wall Street Analysts Forecast Growth

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

Ceres Power Trading Down 2.9 %

The stock has a market cap of £152.44 million, a PE ratio of -3.78 and a beta of 1.60. The firm has a 50-day simple moving average of GBX 156.02 and a 200-day simple moving average of GBX 184.78. The company has a quick ratio of 12.18, a current ratio of 6.48 and a debt-to-equity ratio of 1.54.

Insiders Place Their Bets

In other Ceres Power news, insider Stuart Paynter acquired 7,151 shares of the stock in a transaction that occurred on Wednesday, January 29th. The shares were bought at an average price 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 stock in a transaction that occurred on Thursday, November 28th. The stock was acquired at an average price of GBX 165 ($2.08) per share, for a total transaction of £49,830 ($62,956.41). 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.