Ceres Power (LON:CWR) Trading Down 13.9% – Time to Sell?

Ceres Power Holdings plc (LON:CWR) was down 13.9% during trading on Tuesday . The company traded as low as GBX 316.20 and last traded at GBX 316.80. 4,373,837 shares changed hands during mid-day trading, a decline of 57% from the average daily volume of 10,267,197 shares. The stock had previously closed at GBX 367.80.

Wall Street Analyst Weigh In

CWR has been the subject of several research analyst reports. Berenberg Bank increased their target price on shares of Ceres Power from GBX 530 to GBX 980 and gave the stock a “buy” rating in a research note on Friday, May 29th. Jefferies Financial Group reissued a “buy” rating and issued a GBX 920 price target on shares of Ceres Power in a research note on Wednesday, June 10th. Two analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of GBX 950.

Ceres Power Stock Performance

The company has a quick ratio of 12.18, a current ratio of 3.27 and a debt-to-equity ratio of 2.24. The firm has a 50-day moving average price of GBX 572.30 and a 200 day moving average price of GBX 445.47. The firm has a market capitalization of £677.31 million, a PE ratio of -12.92 and a beta of 2.90.

Insider Buying and Selling

In related news, insider Philip Caldwell sold 456,940 shares of the firm’s stock in a transaction dated Thursday, April 30th. The stock was sold at an average price of GBX 622, for a total transaction of £2,842,166.80. 7.28% of the stock is owned by company insiders.

Ceres Power Company Profile

Ceres is a leading developer of clean energy technology: fuel cells for power generation and electrolysers for green hydrogen. Its asset-light, licensing model has seen it establish partnerships with some of the world’s largest companies, such as Doosan, Delta, Denso, Shell, Weichai and Thermax. Ceres’ solid oxide technology supports greater electrification of our energy systems, including AI data centres, commercial and industrial applications, and produces green hydrogen at high efficiencies as a route to decarbonise emissions-intensive industries such as ammonia, steelmaking and electrofuels.