Ceres Power (LON:CWR) Trading Up 13.6% – Should You Buy?

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

Wall Street Analyst Weigh In

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

Ceres Power Trading Up 2.1 %

The company has a 50 day moving average of GBX 90.76 and a 200 day moving average of GBX 156.90. The firm has a market cap of £111.02 million, a price-to-earnings ratio of -2.75 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 Activity

In other news, insider Stuart Paynter bought 7,151 shares of the business’s stock in a transaction dated Wednesday, January 29th. The stock was bought at an average price of GBX 139 ($1.77) per share, for a total transaction of £9,939.89 ($12,652.61). 40.29% of the stock is 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.