Ceres Power (LON:CWR) Trading Down 35.6% – Time to Sell?

Ceres Power Holdings plc (LON:CWR)’s share price fell 35.6% during mid-day trading on Thursday . The stock traded as low as GBX 68.05 ($0.86) and last traded at GBX 84.42 ($1.07). 31,792,707 shares changed hands during mid-day trading, an increase of 1,523% from the average session volume of 1,959,028 shares. The stock had previously closed at GBX 131 ($1.66).

Wall Street Analyst Weigh In

Separately, Berenberg Bank reaffirmed 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 Price Performance

The company has a 50 day moving average of GBX 156.02 and a two-hundred day moving average of GBX 184.78. The firm has a market cap of £152.44 million, a P/E ratio of -3.78 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 Activity

In other Ceres Power news, insider Stuart Paynter bought 7,151 shares of Ceres Power stock in a transaction that occurred on Wednesday, January 29th. The stock was purchased at an average cost of GBX 139 ($1.76) per share, for a total transaction of £9,939.89 ($12,558.29). Also, insider Dame Julia King bought 30,200 shares of Ceres Power stock in a transaction that occurred on Thursday, November 28th. The shares were acquired at an average price of GBX 165 ($2.08) per share, with a total value of £49,830 ($62,956.41). 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.