Ceres Power (LON:CWR) Shares Down 38.5% – Time to Sell?

Ceres Power Holdings plc (LON:CWR)’s stock price was down 38.5% during trading on Friday . The stock 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 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 issued a GBX 650 ($8.21) target price on shares of Ceres Power in a report on Wednesday, January 29th.

Ceres Power Stock Down 2.9 %

The company has a market cap of £152.44 million, a P/E ratio of -3.78 and a beta of 1.60. The company has a debt-to-equity ratio of 1.54, a current ratio of 6.48 and a quick ratio of 12.18. The stock has a fifty day moving average price of GBX 156.02 and a two-hundred day moving average price of GBX 184.64.

Insider Activity at Ceres Power

In other Ceres Power news, insider Dame Julia King bought 30,200 shares of the business’s stock in a transaction dated Thursday, November 28th. The shares were purchased at an average price of GBX 165 ($2.08) per share, for a total transaction of £49,830 ($62,956.41). Also, insider Stuart Paynter bought 7,151 shares of Ceres Power stock in a transaction dated Wednesday, January 29th. The stock was acquired at an average cost of GBX 139 ($1.76) per share, with a total value of £9,939.89 ($12,558.29). 40.29% of the stock is currently owned by insiders.

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.