Ceres Power (LON:CWR) Stock Passes Below 200-Day Moving Average – What’s Next?

Ceres Power Holdings plc (LON:CWR)’s share price passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of GBX 203.02 ($2.56) and traded as low as GBX 170.61 ($2.15). Ceres Power shares last traded at GBX 176 ($2.22), with a volume of 659,471 shares trading hands.

Wall Street Analyst Weigh In

Separately, Berenberg Bank reiterated a “buy” rating and issued a GBX 650 ($8.19) price objective on shares of Ceres Power in a report on Tuesday, August 6th.

Ceres Power Trading Up 1.1 %

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 has a market capitalization of £340.67 million, a PE ratio of -838.10 and a beta of 1.60. The business’s 50-day moving average is GBX 218.23 and its two-hundred day moving average is GBX 203.19.

Insider Activity at Ceres Power

In other news, insider Stuart Paynter acquired 7,365 shares of the company’s stock in a transaction on Wednesday, October 2nd. The shares were bought at an average cost of GBX 270 ($3.40) per share, with a total value of £19,885.50 ($25,060.49). 40.29% of the stock is owned by insiders.

About Ceres Power

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.