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

Ceres Power Holdings plc (LON:CWR)’s share price fell 38.5% on Thursday . The company traded as low as GBX 68.05 ($0.86) and last traded at GBX 80.55 ($1.02). 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 ($1.66).

Wall Street Analysts Forecast Growth

Separately, Berenberg Bank restated a “buy” rating and set a GBX 650 ($8.21) price target on shares of Ceres Power in a research report on Wednesday, January 29th.

Ceres Power Price Performance

The business’s 50-day moving average price is GBX 156.02 and its 200 day moving average price is GBX 184.78. The stock has a market capitalization of £152.44 million, a PE ratio of -3.78 and a beta of 1.60. The company has a debt-to-equity ratio of 1.54, a quick ratio of 12.18 and a current ratio of 6.48.

Insider Activity

In related news, insider Dame Julia King bought 30,200 shares of the business’s stock in a transaction that occurred on Thursday, November 28th. The stock was bought at an average cost of GBX 165 ($2.08) per share, for a total transaction of £49,830 ($62,956.41). Also, insider Stuart Paynter bought 7,151 shares of the business’s stock in a transaction that occurred on Wednesday, January 29th. The stock was bought at an average price of GBX 139 ($1.76) per share, with a total value of £9,939.89 ($12,558.29). Company insiders own 40.29% of the company’s stock.

Ceres Power Company Profile

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.