Ceres Power (LON:CWR) Shares Down 10.4% – Time to Sell?

Ceres Power Holdings plc (LON:CWR)’s stock price traded down 10.4% during mid-day trading on Thursday . The company traded as low as GBX 357.80 and last traded at GBX 380.60. Approximately 3,413,161 shares were traded during mid-day trading, a decline of 68% from the average session volume of 10,683,211 shares. The stock had previously closed at GBX 424.60.

Analyst Upgrades and Downgrades

CWR has been the topic of several recent research reports. Jefferies Financial Group reiterated a “buy” rating and issued a GBX 920 price target on shares of Ceres Power in a research note on Wednesday, June 10th. Berenberg Bank upped their price target on shares of Ceres Power from GBX 530 to GBX 980 and gave the company a “buy” rating in a research note on Friday, May 29th. Two investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of GBX 950.

Ceres Power Trading Down 10.4%

The stock has a market cap of £813.72 million, a P/E ratio of -15.52 and a beta of 3.24. The company has a quick ratio of 12.18, a current ratio of 3.27 and a debt-to-equity ratio of 2.24. The business’s 50 day simple moving average is GBX 627.88 and its two-hundred day simple moving average is GBX 436.42.

Insider Buying and Selling

In other news, insider Philip Caldwell sold 456,940 shares of Ceres Power stock in a transaction on Thursday, April 30th. The shares were sold at an average price of GBX 622, for a total value of £2,842,166.80. 7.28% of the stock is owned by corporate insiders.

About Ceres Power

Ceres is a leading developer of clean energy technology: fuel cells for power generation and electrolysers for green hydrogen. Its asset-light, licensing model has seen it establish partnerships with some of the world’s largest companies, such as Doosan, Delta, Denso, Shell, Weichai and Thermax. Ceres’ solid oxide technology supports greater electrification of our energy systems, including AI data centres, commercial and industrial applications, and produces green hydrogen at high efficiencies as a route to decarbonise emissions-intensive industries such as ammonia, steelmaking and electrofuels.