Ceres Power (LON:CWR) Stock Price Down 37.6% - Time to Sell?

Ceres Power Holdings plc (LON:CWR - Get Free Report)'s stock price traded down 37.6% during mid-day trading on Thursday . The company traded as low as GBX 68.05 ($0.86) and last traded at GBX 81.75 ($1.03). 78,442,344 shares changed hands during trading, an increase of 2,310% from the average session volume of 3,254,851 shares. The stock had previously closed at GBX 131 ($1.66).

Wall Street Analysts Forecast Growth

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

Ceres Power Stock Down 2.9 %

The business has a fifty day simple moving average of GBX 156.02 and a two-hundred day simple moving average of GBX 184.78. The company has a current ratio of 6.48, a quick ratio of 12.18 and a debt-to-equity ratio of 1.54. The company has a market cap of £152.44 million, a PE ratio of -3.78 and a beta of 1.60.

Insider Buying and Selling at Ceres Power

In related news, insider Dame Julia King purchased 30,200 shares of Ceres Power stock in a transaction dated Thursday, November 28th. The shares were acquired 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 Ceres Power stock in a transaction dated 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). 40.29% of the stock is currently owned by 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.