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

Ceres Power Holdings plc (LON:CWR) dropped 38.5% on Thursday . The company traded as low as GBX 68.05 ($0.86) and last traded at GBX 80.55 ($1.01). Approximately 8,976,891 shares traded 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 ($1.65).

Analyst Ratings Changes

Separately, Berenberg Bank restated a “buy” rating and issued 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 company has a quick ratio of 12.18, a current ratio of 6.48 and a debt-to-equity ratio of 1.54. The firm has a 50 day moving average of GBX 159.68 and a 200 day moving average of GBX 186.33. The firm has a market cap of £157.02 million, a PE ratio of -3.89 and a beta of 1.60.

Insider Activity at Ceres Power

In other news, insider Stuart Paynter acquired 7,151 shares of the company’s stock in a transaction that occurred on Wednesday, January 29th. The shares were acquired at an average price of GBX 139 ($1.75) per share, for a total transaction of £9,939.89 ($12,507.73). Also, insider Dame Julia King acquired 30,200 shares of the company’s stock in a transaction that occurred on 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). 40.29% of the stock is owned by company 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.