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

Ceres Power Holdings plc (LON:CWR)’s share price fell 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 changed hands 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).

Analysts Set New Price Targets

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

Ceres Power Stock Down 38.5 %

The company has a debt-to-equity ratio of 1.54, a quick ratio of 12.18 and a current ratio of 6.48. The business’s 50 day moving average is GBX 159.68 and its 200-day moving average is GBX 186.33. The stock has a market cap of £157.02 million, a price-to-earnings ratio of -3.89 and a beta of 1.60.

Insider Buying and Selling

In other Ceres Power news, insider Dame Julia King bought 30,200 shares of the stock in a transaction on Thursday, November 28th. The shares were bought at an average price of GBX 165 ($2.08) per share, with a total value of £49,830 ($62,702.91). Also, insider Stuart Paynter bought 7,151 shares of the company’s stock in a transaction dated Wednesday, January 29th. The shares were acquired at an average cost of GBX 139 ($1.75) per share, with a total value of £9,939.89 ($12,507.73). 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.