Ceres Power (LON:CWR) Stock Price Passes Below Two Hundred Day Moving Average – Should You Sell?

Ceres Power Holdings plc (LON:CWR) shares passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of GBX 203.02 ($2.56) and traded as low as GBX 170.61 ($2.15). Ceres Power shares last traded at GBX 176 ($2.22), with a volume of 659,471 shares traded.

Analysts Set New Price Targets

Separately, Berenberg Bank reissued a “buy” rating and set a GBX 650 ($8.19) price objective on shares of Ceres Power in a research report on Tuesday, August 6th.

Ceres Power Stock Performance

The company has a debt-to-equity ratio of 1.54, a current ratio of 6.48 and a quick ratio of 12.18. The firm has a market cap of £340.67 million, a PE ratio of -838.10 and a beta of 1.60. The business has a 50-day simple moving average of GBX 218.23 and a 200 day simple moving average of GBX 203.02.

Insiders Place Their Bets

In other news, insider Stuart Paynter bought 7,365 shares of the company’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was bought at an average price of GBX 270 ($3.40) per share, with a total value of £19,885.50 ($25,060.49). 40.29% of the stock is owned by company insiders.

About Ceres Power

Ceres Power Holdings plc engages in the development and commercialization of fuel cell and electrochemical technology in Europe, Asia, North America, and internationally. The company's technology includes Ceres Power, a solid oxide fuel cell technology used for distributed power generation, commercial power, and marine and motive power sectors; and Ceres Hydrogen, a solid oxide electrolyser cell SOEC technology to produce green hydrogen.