Ceres Power (LON:CWR) Shares Pass Below 200 Day Moving Average - Time to Sell?

Ceres Power Holdings plc (LON:CWR - Get Free Report) crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-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.

Wall Street Analysts Forecast Growth

Separately, Berenberg Bank decreased their price objective on shares of Ceres Power from GBX 650 ($8.83) to GBX 340 ($4.62) and set a "buy" rating for the company in a report on Tuesday, February 25th.

Ceres Power Stock Down 5.5%

The business's fifty day moving average price is GBX 66.77 and its 200 day moving average price is GBX 105.26. The company has a market capitalization of £155.36 million, a P/E ratio of -3.85 and a beta of 1.60. 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 Buying and Selling at Ceres Power

In other news, insider Stuart Paynter acquired 33,166 shares of Ceres Power stock in a transaction that occurred on Friday, April 25th. The shares were acquired at an average price of GBX 60 ($0.81) per share, with a total value of £19,899.60 ($27,019.14). 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.