Ceres Power (LON:CWR) Stock Price Down 38.5% – Should You Sell?

Ceres Power Holdings plc (LON:CWR) shares were down 38.5% during mid-day trading on Thursday . The company traded as low as GBX 68.05 ($0.86) and last traded at GBX 80.55 ($1.02). Approximately 8,976,891 shares changed hands during mid-day trading, an increase of 577% from the average daily volume of 1,325,255 shares. The stock had previously closed at GBX 131 ($1.66).

Wall Street Analyst Weigh In

Separately, Berenberg Bank restated a “buy” rating and set a GBX 650 ($8.24) price objective on shares of Ceres Power in a report on Wednesday, January 29th.

Ceres Power Trading Down 38.5 %

The firm has a market cap of £157.02 million, a P/E ratio of -3.89 and a beta of 1.60. The company’s fifty day moving average price is GBX 157.82 and its two-hundred day moving average price is GBX 185.60. The company has a current ratio of 6.48, a quick ratio of 12.18 and a debt-to-equity ratio of 1.54.

Insider Transactions at Ceres Power

In other Ceres Power news, insider Dame Julia King bought 30,200 shares of the firm’s stock in a transaction dated Thursday, November 28th. The shares were bought at an average price of GBX 165 ($2.09) per share, for a total transaction of £49,830 ($63,139.89). Also, insider Stuart Paynter bought 7,151 shares of Ceres Power stock in a transaction dated Wednesday, January 29th. The shares were bought at an average price of GBX 139 ($1.76) per share, for a total transaction of £9,939.89 ($12,594.89). 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.