Ceres Power (LON:CWR) Stock Price Crosses Below Two Hundred Day Moving Average of $318.29

Ceres Power Holdings plc (LON:CWR) shares passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 318.29 ($3.87) and traded as low as GBX 195.10 ($2.37). Ceres Power shares last traded at GBX 202.60 ($2.47), with a volume of 392,165 shares changing hands.

Wall Street Analyst Weigh In

Separately, Berenberg Bank lowered their target price on Ceres Power from GBX 1,155 ($14.05) to GBX 1,140 ($13.87) and set a “buy” rating on the stock in a research report on Tuesday, July 25th.

Ceres Power Trading Up 2.3 %

The business has a 50 day simple moving average of GBX 294.72 and a 200-day simple moving average of GBX 318.29. The company has a debt-to-equity ratio of 1.37, a quick ratio of 12.18 and a current ratio of 8.24. The stock has a market capitalization of £390.65 million, a P/E ratio of -810.40 and a beta of 1.57.

Insider Buying and Selling at Ceres Power

In related news, insider Philip Caldwell acquired 81,746 shares of Ceres Power stock in a transaction dated Tuesday, October 3rd. The stock was acquired at an average cost of GBX 320 ($3.89) per share, with a total value of £261,587.20 ($318,310.05). 39.63% of the stock is currently owned by corporate insiders.

Ceres Power Company Profile

Ceres Power Holdings plc, a fuel cell technology and engineering company, engages in the development and commercialization of fuel cell technology in North America, Asia, and Europe. The company offers SteelCell, a solid oxide fuel cell that generates power from conventional and sustainable fuels, such as natural gas, biogas, ethanol, and hydrogen.