Ceres Power (LON:CWR) Trading Down 9.2% – Should You Sell?

Ceres Power Holdings plc (LON:CWR) fell 9.2% during mid-day trading on Friday . The stock traded as low as GBX 61.55 ($0.79) and last traded at GBX 64.95 ($0.84). 1,987,114 shares were traded during mid-day trading, an increase of 1% from the average session volume of 1,965,522 shares. The stock had previously closed at GBX 71.55 ($0.92).

Wall Street Analysts Forecast Growth

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

Ceres Power Trading Down 8.0 %

The firm’s 50-day moving average is GBX 113.58 and its 200-day moving average is GBX 167.39. The company has a current ratio of 6.48, a quick ratio of 12.18 and a debt-to-equity ratio of 1.54. The firm has a market cap of £128.37 million, a price-to-earnings ratio of -3.18 and a beta of 1.60.

Insiders Place Their Bets

In other news, insider Stuart Paynter acquired 7,151 shares of the business’s stock in a transaction on Wednesday, January 29th. The shares were purchased at an average cost of GBX 139 ($1.79) per share, with a total value 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.