Ceres Power (LON:CWR) Stock Price Down 38.5% - Time to Sell?

Ceres Power Holdings plc (LON:CWR - Get Free Report)'s share price 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 were traded 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).

Wall Street Analyst Weigh In

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

Ceres Power Stock Down 2.9 %

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

Insider Activity at Ceres Power

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