Ceres Power (LON:CWR) Stock Price Down 39% - Time to Sell?

Ceres Power Holdings plc (LON:CWR - Get Free Report) shares traded down 39% during mid-day trading on Thursday . The stock traded as low as GBX 68.05 ($0.86) and last traded at GBX 79.96 ($1.01). 34,326,074 shares traded hands during trading, an increase of 1,591% from the average session volume of 2,029,399 shares. The stock had previously closed at GBX 131 ($1.66).

Analyst Ratings Changes

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

Ceres Power Price Performance

The company 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 quick ratio of 12.18, a current ratio of 6.48 and a debt-to-equity ratio of 1.54. The business has a 50 day simple moving average of GBX 156.02 and a 200-day simple moving average of GBX 184.78.

Insider Activity

In related news, insider Stuart Paynter purchased 7,151 shares of the company's stock in a transaction that occurred on Wednesday, January 29th. The shares were 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 purchased 30,200 shares of the company's stock in a transaction that occurred on Thursday, November 28th. The stock was bought at an average cost of GBX 165 ($2.08) per share, for a total transaction of £49,830 ($62,956.41). Corporate insiders own 40.29% of the company's stock.

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.