Ceres Power (LON:CWR) Shares Down 9% – Time to Sell?

Ceres Power Holdings plc (LON:CWR)’s share price dropped 9% on Friday . The stock traded as low as GBX 61.55 ($0.79) and last traded at GBX 65.10 ($0.84). Approximately 2,394,166 shares were traded during mid-day trading, an increase of 21% from the average daily volume of 1,972,663 shares. The stock had previously closed at GBX 71.55 ($0.92).

Analyst Upgrades and Downgrades

Separately, Berenberg Bank lowered their price objective on Ceres Power from GBX 650 ($8.39) to GBX 340 ($4.39) and set a “buy” rating for the company in a report on Tuesday, February 25th.

Ceres Power Stock Performance

The stock has a market capitalization of £128.37 million, a P/E ratio of -3.18 and a beta of 1.60. The company has a fifty day moving average of GBX 113.58 and a two-hundred day moving average of GBX 167.39. The company has a debt-to-equity ratio of 1.54, a current ratio of 6.48 and a quick ratio of 12.18.

Insider Activity

In related news, insider Stuart Paynter bought 7,151 shares of the stock in a transaction dated Wednesday, January 29th. The stock was bought at an average cost of GBX 139 ($1.79) per share, with a total value of £9,939.89 ($12,833.94). Corporate 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.