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

Ceres Power Holdings plc (LON:CWR - Get Free Report)'s stock price dropped 34.5% on Thursday . The stock traded as low as GBX 68.05 ($0.86) and last traded at GBX 85.79 ($1.08). Approximately 33,282,238 shares changed hands 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).

Wall Street Analyst Weigh In

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

Ceres Power Price Performance

The company has a debt-to-equity ratio of 1.54, a current ratio of 6.48 and a quick ratio of 12.18. The company's 50 day moving average is GBX 156.02 and its 200 day moving average is GBX 184.78. The stock has a market cap of £152.44 million, a price-to-earnings ratio of -3.78 and a beta of 1.60.

Insider Activity at Ceres Power

In related news, insider Dame Julia King acquired 30,200 shares of Ceres Power stock in a transaction that occurred on Thursday, November 28th. The stock was 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 bought 7,151 shares of the business's stock in a transaction on Wednesday, January 29th. The shares were acquired at an average price of GBX 139 ($1.76) per share, with a total value of £9,939.89 ($12,558.29). Company 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.