Ceres Power (LON:CWR) Shares Cross Below 200-Day Moving Average – Time to Sell?

Ceres Power Holdings plc (LON:CWR) crossed below its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of GBX 202.06 ($2.63) and traded as low as GBX 173.60 ($2.26). Ceres Power shares last traded at GBX 182.50 ($2.38), with a volume of 1,038,223 shares trading hands.

Analyst Ratings Changes

Separately, Berenberg Bank reiterated a “buy” rating and issued a GBX 650 ($8.46) price objective on shares of Ceres Power in a report on Tuesday, August 6th.

Ceres Power Stock Performance

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 market cap of £333.50 million, a PE ratio of -820.48 and a beta of 1.60. The business has a 50 day moving average price of GBX 219.18 and a two-hundred day moving average price of GBX 202.15.

Insider Buying and Selling

In other Ceres Power news, insider Stuart Paynter bought 7,365 shares of Ceres Power stock in a transaction dated Wednesday, October 2nd. The shares were purchased at an average cost of GBX 270 ($3.51) per share, with a total value of £19,885.50 ($25,885.84). 40.29% of the stock is owned by insiders.

Ceres Power Company Profile

Ceres Power Holdings plc engages in the development and commercialization of fuel cell and electrochemical technology in Europe, Asia, North America, and internationally. The company's technology includes Ceres Power, a solid oxide fuel cell technology used for distributed power generation, commercial power, and marine and motive power sectors; and Ceres Hydrogen, a solid oxide electrolyser cell SOEC technology to produce green hydrogen.