Ceres Power (LON:CWR) Stock Price Up 13.6% – Here’s What Happened

Ceres Power Holdings plc (LON:CWR)’s share price was up 13.6% during trading on Monday . The company traded as high as GBX 57.60 ($0.73) and last traded at GBX 54.80 ($0.70). Approximately 9,372,030 shares traded hands during mid-day trading, an increase of 334% from the average daily volume of 2,161,570 shares. The stock had previously closed at GBX 48.24 ($0.61).

Analyst Ratings Changes

Separately, Berenberg Bank dropped their price objective on Ceres Power from GBX 650 ($8.27) to GBX 340 ($4.33) and set a “buy” rating for the company in a research note on Tuesday, February 25th.

Ceres Power Stock Performance

The business’s fifty day simple moving average is GBX 90.76 and its 200-day simple moving average is GBX 156.90. The firm has a market cap of £109.07 million, a P/E ratio of -2.71 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

In other Ceres Power news, insider Stuart Paynter purchased 7,151 shares of the company’s stock in a transaction that occurred on Wednesday, January 29th. The stock was bought at an average price of GBX 139 ($1.77) per share, with a total value of £9,939.89 ($12,652.61). 40.29% of the stock is 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.