Ceres Power (LON:CWR) Trading Down 38.5% - Should You Sell?

Ceres Power Holdings plc (LON:CWR - Get Free Report) was down 38.5% during mid-day trading on Thursday . The stock traded as low as GBX 68.05 ($0.86) and last traded at GBX 80.55 ($1.02). Approximately 8,976,891 shares traded hands during trading, an increase of 577% from the average daily volume of 1,325,255 shares. The stock had previously closed at GBX 131 ($1.66).

Analysts Set New Price Targets

Separately, Berenberg Bank reiterated a "buy" rating and set a GBX 650 ($8.21) price target on shares of Ceres Power in a research report on Wednesday, January 29th.

Ceres Power Price Performance

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 business has a 50-day moving average price of GBX 156.02 and a two-hundred day moving average price of GBX 184.78. The firm has a market capitalization of £152.44 million, a price-to-earnings ratio of -3.78 and a beta of 1.60.

Insider Transactions at Ceres Power

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