Ceres Power (LON:CWR) Stock Price Down 34.5% - Should You Sell?

Ceres Power Holdings plc (LON:CWR - Get Free Report) was down 34.5% during trading on Thursday . The company traded as low as GBX 68.05 ($0.86) and last traded at GBX 85.79 ($1.08). Approximately 33,282,238 shares were traded during mid-day trading, an increase of 1,564% from the average daily volume of 2,000,404 shares. The stock had previously closed at GBX 131 ($1.66).

Analyst Ratings Changes

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

Ceres Power Price Performance

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 company has a market capitalization of £152.44 million, a PE ratio of -3.78 and a beta of 1.60. The company's 50-day simple moving average is GBX 156.02 and its 200-day simple moving average is GBX 184.78.

Insiders Place Their Bets

In other Ceres Power news, insider Stuart Paynter acquired 7,151 shares of the stock in a transaction on Wednesday, January 29th. The shares were bought at an average cost 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 stock in a transaction on Thursday, November 28th. The shares were acquired at an average cost of GBX 165 ($2.08) per share, for a total transaction of £49,830 ($62,956.41). 40.29% of the stock is currently 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.