Ceres Power (LON:CWR) Shares Down 11.1% – Should You Sell?

Ceres Power Holdings plc (LON:CWR)’s stock price was down 11.1% during mid-day trading on Thursday . The stock traded as low as GBX 51.10 ($0.65) and last traded at GBX 52.10 ($0.67). Approximately 1,641,298 shares traded hands during trading, a decline of 20% from the average daily volume of 2,054,191 shares. The stock had previously closed at GBX 58.60 ($0.75).

Wall Street Analyst Weigh In

Separately, Berenberg Bank lowered their target price on shares of Ceres Power from GBX 650 ($8.31) to GBX 340 ($4.34) and set a “buy” rating on the stock in a research report on Tuesday, February 25th.

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 stock has a market capitalization of £113.31 million, a price-to-earnings ratio of -2.81 and a beta of 1.60. The company’s 50-day simple moving average is GBX 83.65 and its 200 day simple moving average is GBX 153.60.

Insiders Place Their Bets

In other Ceres Power news, insider Stuart Paynter purchased 7,151 shares of the stock in a transaction dated Wednesday, January 29th. The shares were bought at an average cost of GBX 139 ($1.78) per share, with a total value of £9,939.89 ($12,701.11). 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.