Ceres Power (LON:CWR) Shares Down 36.2% - Time to Sell?

Ceres Power Holdings plc (LON:CWR - Get Free Report)'s stock price was down 36.2% during trading on Thursday . The company traded as low as GBX 68.05 ($0.86) and last traded at GBX 83.55 ($1.06). Approximately 33,563,258 shares were traded during mid-day trading, an increase of 1,571% from the average daily volume of 2,008,210 shares. The stock had previously closed at GBX 131 ($1.66).

Wall Street Analyst Weigh In

Separately, Berenberg Bank reiterated 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 Stock Performance

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

In other Ceres Power news, insider Stuart Paynter bought 7,151 shares of the firm's stock in a transaction that occurred on Wednesday, January 29th. The shares were bought at an average price of GBX 139 ($1.76) per share, for a total transaction of £9,939.89 ($12,558.29). Also, insider Dame Julia King bought 30,200 shares of the firm's stock in a transaction that occurred on Thursday, November 28th. The stock was acquired at an average price of GBX 165 ($2.08) per share, for a total transaction of £49,830 ($62,956.41). 40.29% of the stock is owned by corporate 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.