Ceres Power (LON:CWR) Share Price Crosses Below 200-Day Moving Average - What's Next?

Shares of Ceres Power Holdings plc (LON:CWR - Get Free Report) passed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 103.43 ($1.40) and traded as low as GBX 81.20 ($1.10). Ceres Power shares last traded at GBX 82.25 ($1.11), with a volume of 374,127 shares.

Analysts Set New Price Targets

Separately, Berenberg Bank decreased their price objective on shares of Ceres Power from GBX 650 ($8.80) to GBX 340 ($4.60) and set a "buy" rating for the company in a research report on Tuesday, February 25th.

Ceres Power Stock Down 3.7%

The company has a market capitalization of £150.69 million, a PE ratio of -3.74 and a beta of 1.60. The business's 50-day simple moving average is GBX 69.95 and its 200-day simple moving average is GBX 101.38. The company has a current ratio of 6.48, a quick ratio of 12.18 and a debt-to-equity ratio of 1.54.

Insider Activity at Ceres Power

In other news, insider Stuart Paynter bought 33,166 shares of Ceres Power stock in a transaction on Friday, April 25th. The stock was acquired at an average price of GBX 60 ($0.81) per share, with a total value of £19,899.60 ($26,942.32). 40.29% of the stock is currently 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.