Ceres Power (LON:CWR) Stock Price Passes Below Two Hundred 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 Monday . The stock has a 200-day moving average of GBX 128.26 ($1.70) and traded as low as GBX 58.55 ($0.78). Ceres Power shares last traded at GBX 60.80 ($0.81), with a volume of 485,937 shares.

Wall Street Analysts Forecast Growth

Separately, Berenberg Bank lowered their price target on shares of Ceres Power from GBX 650 ($8.64) to GBX 340 ($4.52) and set a "buy" rating on the stock in a research report on Tuesday, February 25th.

Ceres Power Price Performance

The stock's 50-day simple moving average is GBX 59.77 and its 200 day simple moving average is GBX 123.70. 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 cap of £133.14 million, a price-to-earnings ratio of -3.30 and a beta of 1.60.

Insiders Place Their Bets

In related news, insider Stuart Paynter purchased 33,166 shares of the company'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 ($26,441.14). 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.