Ceres Power (LON:CWR) Shares Down 38.5% – Time to Sell?

Ceres Power Holdings plc (LON:CWR)’s share price fell 38.5% on Friday . The company traded as low as GBX 68.05 ($0.86) and last traded at GBX 80.55 ($1.02). 8,976,891 shares were traded during trading, an increase of 577% from the average session volume of 1,325,255 shares. The stock had previously closed at GBX 131 ($1.66).

Wall Street Analysts Forecast Growth

Separately, Berenberg Bank reissued a “buy” rating and issued a GBX 650 ($8.21) price objective on shares of Ceres Power in a research report on Wednesday, January 29th.

Ceres Power Price Performance

The stock has a market capitalization of £152.44 million, a P/E ratio of -3.78 and a beta of 1.60. The company has a debt-to-equity ratio of 1.54, a quick ratio of 12.18 and a current ratio of 6.48. The business has a fifty day simple moving average of GBX 156.02 and a 200-day simple moving average of GBX 184.64.

Insider Activity at Ceres Power

In other news, insider Stuart Paynter acquired 7,151 shares of Ceres Power stock in a transaction on Wednesday, January 29th. The stock was purchased at an average price of GBX 139 ($1.76) per share, with a total value of £9,939.89 ($12,558.29). Also, insider Dame Julia King acquired 30,200 shares of the firm’s stock in a transaction dated Thursday, November 28th. The shares were purchased at an average price of GBX 165 ($2.08) per share, with a total value of £49,830 ($62,956.41). 40.29% of the stock is owned by corporate 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.