Ceres Power (LON:CWR) Shares Pass Below 200-Day Moving Average – Time to Sell?

Ceres Power Holdings plc (LON:CWR)’s share price crossed below its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of GBX 203.02 ($2.56) and traded as low as GBX 170.61 ($2.15). Ceres Power shares last traded at GBX 176 ($2.22), with a volume of 659,471 shares changing hands.

Analyst Upgrades and Downgrades

Separately, Berenberg Bank reiterated a “buy” rating and issued a GBX 650 ($8.19) target price on shares of Ceres Power in a research report on Tuesday, August 6th.

Ceres Power Stock Up 1.1 %

The business has a 50-day moving average price of GBX 218.23 and a 200 day moving average price of GBX 203.02. The company has a current ratio of 6.48, a quick ratio of 12.18 and a debt-to-equity ratio of 1.54. The stock has a market capitalization of £340.67 million, a P/E ratio of -838.10 and a beta of 1.60.

Insider Activity at Ceres Power

In related news, insider Stuart Paynter acquired 7,365 shares of Ceres Power stock in a transaction on Wednesday, October 2nd. The shares were bought at an average cost of GBX 270 ($3.40) per share, with a total value of £19,885.50 ($25,060.49). 40.29% of the stock is owned by insiders.

About Ceres Power

Ceres Power Holdings plc engages in the development and commercialization of fuel cell and electrochemical technology in Europe, Asia, North America, and internationally. The company's technology includes Ceres Power, a solid oxide fuel cell technology used for distributed power generation, commercial power, and marine and motive power sectors; and Ceres Hydrogen, a solid oxide electrolyser cell SOEC technology to produce green hydrogen.