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

by · The Cerbat Gem

Ceres Power Holdings plc (LON:CWR – Get Free Report) was down 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 changed hands during mid-day 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).

Wall Street Analysts Forecast Growth

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

View Our Latest Analysis on Ceres Power

Ceres Power Price Performance

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

Insider Buying and Selling

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

About Ceres Power

(Get Free Report)

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.

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