Ceres Power (LON:CWR) Share Price Crosses Below 200-Day Moving Average - Time to Sell?

Ceres Power Holdings plc (LON:CWR - Get Free Report) shares passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 117.36 ($1.57) and traded as low as GBX 69.59 ($0.93). Ceres Power shares last traded at GBX 71.75 ($0.96), with a volume of 361,172 shares traded.

Analyst Upgrades and Downgrades

Separately, Berenberg Bank cut their target price on shares of Ceres Power from GBX 650 ($8.72) to GBX 340 ($4.56) and set a "buy" rating on the stock in a report on Tuesday, February 25th.

Ceres Power Trading Down 2.9%

The company's fifty day simple moving average is GBX 61.82 and its two-hundred day simple moving average is GBX 117.36. The company has a quick ratio of 12.18, a current ratio of 6.48 and a debt-to-equity ratio of 1.54. The company has a market capitalization of £135.88 million, a price-to-earnings ratio of -3.37 and a beta of 1.60.

Insiders Place Their Bets

In other news, insider Stuart Paynter bought 33,166 shares of the business's stock in a transaction on Friday, April 25th. The shares were bought at an average cost of GBX 60 ($0.80) per share, for a total transaction of £19,899.60 ($26,685.80). Company insiders own 40.29% of the company's stock.

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.

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