Ceres Power (LON:CWR) Share Price Passes Below 200-Day Moving Average – Should You Sell?

Ceres Power Holdings plc (LON:CWR) shares passed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of GBX 122.37 ($1.63) and traded as low as GBX 73.90 ($0.98). Ceres Power shares last traded at GBX 79.30 ($1.06), with a volume of 1,020,036 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, Berenberg Bank lowered their target price on Ceres Power from GBX 650 ($8.65) to GBX 340 ($4.52) and set a “buy” rating on the stock in a research note on Tuesday, February 25th.

Ceres Power Stock Down 4.6%

The stock’s fifty day moving average is GBX 60.27 and its two-hundred day moving average is GBX 122.37. 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 firm has a market cap of £147.46 million, a P/E ratio of -3.66 and a beta of 1.60.

Insider Activity at Ceres Power

In related news, insider Stuart Paynter purchased 33,166 shares of the business’s stock in a transaction that occurred on Friday, April 25th. The shares were acquired at an average price of GBX 60 ($0.80) per share, for a total transaction of £19,899.60 ($26,483.36). 40.29% of the stock is 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.