Ceres Power (LON:CWR) Stock Passes Below Two Hundred Day Moving Average - Time to Sell?

Shares of Ceres Power Holdings plc (LON:CWR - Get Free Report) passed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of GBX 117.36 ($1.59) and traded as low as GBX 69.59 ($0.94). Ceres Power shares last traded at GBX 71.75 ($0.97), with a volume of 361,172 shares.

Wall Street Analyst Weigh In

Separately, Berenberg Bank reduced their target price on Ceres Power from GBX 650 ($8.82) to GBX 340 ($4.61) and set a "buy" rating on the stock in a report on Tuesday, February 25th.

Ceres Power Stock Up 7.5%

The stock has a market cap of £135.48 million, a price-to-earnings ratio of -3.36 and a beta of 1.60. 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 stock has a fifty day moving average of GBX 61.60 and a two-hundred day moving average of GBX 113.88.

Insider Transactions at Ceres Power

In other news, insider Stuart Paynter acquired 33,166 shares of the stock in a transaction that occurred on Friday, April 25th. The stock was purchased at an average cost of GBX 60 ($0.81) per share, with a total value of £19,899.60 ($27,000.81). Corporate insiders own 40.29% of the company's stock.

About Ceres Power

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.