Ceres Power (LON:CWR) Trading Down 12.5% – Should You Sell?

Ceres Power Holdings plc (LON:CWR)’s share price was down 12.5% during trading on Friday . The stock traded as low as GBX 62.15 ($0.81) and last traded at GBX 62.62 ($0.81). Approximately 1,178,544 shares were traded during mid-day trading, a decline of 40% from the average daily volume of 1,951,336 shares. The stock had previously closed at GBX 71.55 ($0.93).

Wall Street Analyst Weigh In

Separately, Berenberg Bank dropped their price target on shares of Ceres Power from GBX 650 ($8.43) to GBX 340 ($4.41) and set a “buy” rating on the stock in a research report on Tuesday, February 25th.

Ceres Power Trading Down 12.5 %

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 firm’s 50-day simple moving average is GBX 115.64 and its 200 day simple moving average is GBX 168.30. The stock has a market capitalization of £122.07 million, a P/E ratio of -3.03 and a beta of 1.60.

Insiders Place Their Bets

In related news, insider Stuart Paynter acquired 7,151 shares of the business’s stock in a transaction on Wednesday, January 29th. The shares were purchased at an average price of GBX 139 ($1.80) per share, for a total transaction of £9,939.89 ($12,888.86). 40.29% of the stock is owned by company 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.