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

Ceres Power Holdings plc (LON:CWR - Get Free Report) shares crossed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of GBX 106.78 ($1.45) and traded as low as GBX 78.85 ($1.07). Ceres Power shares last traded at GBX 85.25 ($1.16), with a volume of 1,612,198 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, Berenberg Bank decreased their price objective on shares of Ceres Power from GBX 650 ($8.85) to GBX 340 ($4.63) and set a "buy" rating for the company in a report on Tuesday, February 25th.

Ceres Power Trading Down 1.1%

The company has a debt-to-equity ratio of 1.54, a quick ratio of 12.18 and a current ratio of 6.48. The stock has a 50-day moving average of GBX 65.76 and a two-hundred day moving average of GBX 106.78. The company has a market cap of £164.33 million, a P/E ratio of -4.08 and a beta of 1.60.

Insider Buying and Selling

In related news, insider Stuart Paynter acquired 33,166 shares of Ceres Power stock in a transaction dated Friday, April 25th. The shares were purchased at an average price of GBX 60 ($0.82) per share, for a total transaction of £19,899.60 ($27,092.72). 40.29% of the stock is currently owned by corporate 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.