Ceres Power (LON:CWR) Trading Down 12.5% – Time to Sell?

Shares of Ceres Power Holdings plc (LON:CWR) fell 12.5% on Friday . The company traded as low as GBX 62.15 ($0.80) and last traded at GBX 62.62 ($0.81). 1,178,544 shares were traded during mid-day trading, a decline of 40% from the average session volume of 1,951,336 shares. The stock had previously closed at GBX 71.55 ($0.92).

Analyst Ratings Changes

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

Ceres Power Stock Performance

The business has a fifty day simple moving average of GBX 113.58 and a two-hundred day simple moving average of GBX 167.39. 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 market cap of £128.37 million, a P/E ratio of -3.18 and a beta of 1.60.

Insider Buying and Selling at Ceres Power

In other news, insider Stuart Paynter bought 7,151 shares of the firm’s stock in a transaction on Wednesday, January 29th. The stock was acquired at an average cost of GBX 139 ($1.79) per share, with a total value of £9,939.89 ($12,833.94). 40.29% of the stock is currently owned by company insiders.

Ceres Power Company Profile

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.