Ceres Power (LON:CWR) Shares Down 38.5% - Should You Sell?

Shares of Ceres Power Holdings plc (LON:CWR - Get Free Report) dropped 38.5% on Friday . The company 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 Analysts Forecast Growth

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

Ceres Power Price Performance

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

Insider Activity

In other news, insider Stuart Paynter acquired 7,151 shares of the company's stock in a transaction that occurred on Wednesday, January 29th. The shares were acquired 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 acquired 30,200 shares of the 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 currently 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.