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

Ceres Power Holdings plc (LON:CWR)’s share price dropped 38.5% on Thursday . The company traded as low as GBX 68.05 ($0.86) and last traded at GBX 80.55 ($1.02). Approximately 8,976,891 shares traded hands during trading, an increase of 577% from the average daily volume of 1,325,255 shares. The stock had previously closed at GBX 131 ($1.66).

Analyst Ratings Changes

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

Ceres Power Trading Down 2.9 %

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

Insider Buying and Selling

In related news, insider Stuart Paynter purchased 7,151 shares of the firm’s stock in a transaction that occurred on Wednesday, January 29th. The stock was bought at an average cost of GBX 139 ($1.76) per share, with a total value of £9,939.89 ($12,558.29). Also, insider Dame Julia King purchased 30,200 shares of the firm’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, with a total value of £49,830 ($62,956.41). 40.29% of the stock is owned by 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.