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

Ceres Power Holdings plc (LON:CWR) shares traded down 38.5% during trading 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 traded hands during 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) target price on shares of Ceres Power in a research note on Wednesday, January 29th.

Ceres Power Trading Down 38.5 %

The firm has a 50 day simple moving average of GBX 159.68 and a 200 day simple moving average of GBX 186.33. 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 firm has a market capitalization of £157.02 million, a PE ratio of -3.89 and a beta of 1.60.

Insider Buying and Selling at Ceres Power

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