Ceres Power (LON:CWR) Shares Down 9% – Time to Sell?

Ceres Power Holdings plc (LON:CWR)’s stock price fell 9% during trading on Friday . The stock traded as low as GBX 61.55 ($0.79) and last traded at GBX 65.10 ($0.84). 2,394,166 shares traded hands during mid-day trading, an increase of 21% from the average session volume of 1,972,663 shares. The stock had previously closed at GBX 71.55 ($0.92).

Wall Street Analyst Weigh In

Separately, Berenberg Bank cut their price objective on Ceres Power from GBX 650 ($8.39) to GBX 340 ($4.39) and set a “buy” rating on the stock in a research report on Tuesday, February 25th.

Ceres Power Stock Performance

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 company has a 50 day moving average of GBX 113.58 and a 200 day moving average of GBX 167.39. The firm has a market cap of £128.37 million, a price-to-earnings ratio of -3.18 and a beta of 1.60.

Insider Buying and Selling

In other Ceres Power news, insider Stuart Paynter purchased 7,151 shares of the business’s stock in a transaction that occurred on Wednesday, January 29th. The shares were acquired at an average price of GBX 139 ($1.79) per share, for a total transaction of £9,939.89 ($12,833.94). Insiders own 40.29% of the company’s stock.

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.