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

Shares of Ceres Power Holdings plc (LON:CWR) traded down 38.5% on Thursday . The stock traded as low as GBX 68.05 ($0.86) and last traded at GBX 80.55 ($1.01). 8,976,891 shares were traded during mid-day trading, an increase of 577% from the average session volume of 1,325,255 shares. The stock had previously closed at GBX 131 ($1.65).

Analyst Ratings Changes

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

Ceres Power Price Performance

The firm has a market capitalization of £157.02 million, a P/E ratio of -3.89 and a beta of 1.60. The business has a 50-day moving average of GBX 159.68 and a 200 day moving average of GBX 186.33. 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 Activity at Ceres Power

In related news, insider Dame Julia King acquired 30,200 shares of the firm’s stock in a transaction on Thursday, November 28th. The stock was purchased at an average cost of GBX 165 ($2.08) per share, with a total value of £49,830 ($62,702.91). Also, insider Stuart Paynter acquired 7,151 shares of the firm’s stock in a transaction on Wednesday, January 29th. The shares were bought at an average cost of GBX 139 ($1.75) per share, with a total value of £9,939.89 ($12,507.73). 40.29% of the stock is currently owned by corporate 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.