Ceres Power (LON:CWR) Shares Down 34.5% – Time to Sell?

Shares of Ceres Power Holdings plc (LON:CWR) fell 34.5% during mid-day trading on Thursday . The company traded as low as GBX 68.05 ($0.86) and last traded at GBX 85.79 ($1.08). 33,282,238 shares changed hands during trading, an increase of 1,564% from the average session volume of 2,000,404 shares. The stock had previously closed at GBX 131 ($1.65).

Analysts Set New Price Targets

Separately, Berenberg Bank restated a “buy” rating and issued a GBX 650 ($8.18) price target on shares of Ceres Power in a report on Wednesday, January 29th.

Ceres Power Stock Down 36.1 %

The firm’s fifty day simple moving average is GBX 159.68 and its 200-day simple moving average is GBX 186.33. The company has a market cap of £163.07 million, a PE ratio of -4.04 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 at Ceres Power

In other Ceres Power news, insider Dame Julia King acquired 30,200 shares of the stock in a transaction dated Thursday, November 28th. The stock was acquired at an average price of GBX 165 ($2.08) per share, with a total value of £49,830 ($62,702.91). Also, insider Stuart Paynter bought 7,151 shares of Ceres Power stock in a transaction that occurred on Wednesday, January 29th. The shares were acquired at an average price of GBX 139 ($1.75) per share, for a total transaction of £9,939.89 ($12,507.73). Corporate insiders own 40.29% of the company’s stock.

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.