Ceres Power (LON:CWR) Share Price Crosses Below 200-Day Moving Average – Here’s Why

Ceres Power Holdings plc (LON:CWR) passed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 190.86 ($2.37) and traded as low as GBX 146.20 ($1.82). Ceres Power shares last traded at GBX 146.20 ($1.82), with a volume of 336,952 shares traded.

Wall Street Analysts Forecast Growth

Separately, Berenberg Bank reaffirmed a “buy” rating and issued a GBX 650 ($8.08) target price on shares of Ceres Power in a research note on Wednesday, January 29th.

Ceres Power Stock Performance

The firm’s 50 day moving average price is GBX 164.53 and its two-hundred day moving average price is GBX 190.86. The firm has a market cap of £286.47 million, a PE ratio of -704.76 and a beta of 1.60. The company has a debt-to-equity ratio of 1.54, a quick ratio of 12.18 and a current ratio of 6.48.

Insider Buying and Selling

In related news, insider Stuart Paynter bought 7,151 shares of the firm’s stock in a transaction on Wednesday, January 29th. The shares were bought at an average price of GBX 139 ($1.73) per share, with a total value of £9,939.89 ($12,361.51). Also, insider Dame Julia King purchased 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 ($2.05) per share, with a total value of £49,830 ($61,969.90). 40.29% of the stock is currently 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.