Ceres Power (LON:CWR) Shares Down 39% – Should You Sell?

Shares of Ceres Power Holdings plc (LON:CWR) fell 39% during trading on Thursday . The stock traded as low as GBX 68.05 ($0.86) and last traded at GBX 79.96 ($1.01). 34,326,074 shares traded hands during mid-day trading, an increase of 1,591% from the average session volume of 2,029,399 shares. The stock had previously closed at GBX 131 ($1.66).

Wall Street Analysts Forecast Growth

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

Ceres Power Stock Performance

The company has a market capitalization of £152.44 million, a price-to-earnings ratio of -3.78 and a beta of 1.60. The company has a debt-to-equity ratio of 1.54, a current ratio of 6.48 and a quick ratio of 12.18. The stock has a 50 day moving average price of GBX 156.02 and a two-hundred day moving average price of GBX 184.78.

Insider Activity

In other news, insider Dame Julia King purchased 30,200 shares of the firm’s stock in a transaction that occurred on Thursday, November 28th. The shares were acquired at an average price of GBX 165 ($2.08) per share, for a total transaction of £49,830 ($62,956.41). Also, insider Stuart Paynter purchased 7,151 shares of the firm’s stock in a transaction that occurred on Wednesday, January 29th. The stock was purchased at an average price of GBX 139 ($1.76) per share, for a total transaction of £9,939.89 ($12,558.29). 40.29% of the stock is currently owned by corporate 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.