Ceres Power (LON:CWR) Stock Passes Below 200-Day Moving Average - Here's What Happened

Shares of Ceres Power Holdings plc (LON:CWR - Get Free Report) crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 147.21 ($1.95) and traded as low as GBX 56.30 ($0.75). Ceres Power shares last traded at GBX 57.60 ($0.76), with a volume of 645,836 shares.

Analyst Upgrades and Downgrades

Separately, Berenberg Bank lowered their price target on Ceres Power from GBX 650 ($8.61) to GBX 340 ($4.51) and set a "buy" rating on the stock in a research report on Tuesday, February 25th.

Ceres Power Stock Performance

The firm has a market cap of £111.80 million, a PE ratio of -2.77 and a beta of 1.60. The company has a 50 day simple moving average of GBX 67.71 and a 200-day simple moving average of GBX 141.93. The company has a debt-to-equity ratio of 1.54, a current ratio of 6.48 and a quick ratio of 12.18.

Insider Activity at Ceres Power

In related news, insider Stuart Paynter purchased 7,151 shares of Ceres Power stock in a transaction that occurred on Wednesday, January 29th. The shares were acquired at an average cost of GBX 139 ($1.84) per share, for a total transaction of £9,939.89 ($13,170.65). 40.29% of the stock is owned by 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.