Ceres Power (LON:CWR) Shares Up 13.6% – Here’s Why

Ceres Power Holdings plc (LON:CWR)’s share price was up 13.6% during mid-day trading on Monday . The stock traded as high as GBX 57.60 ($0.73) and last traded at GBX 54.80 ($0.70). Approximately 9,372,030 shares were traded during 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).

Wall Street Analyst Weigh In

Separately, Berenberg Bank reduced their target price 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 report on Tuesday, February 25th.

Ceres Power Price Performance

The company has a current ratio of 6.48, a quick ratio of 12.18 and a debt-to-equity ratio of 1.54. The firm has a market capitalization of £106.83 million, a P/E ratio of -2.65 and a beta of 1.60. The company has a 50 day moving average of GBX 90.76 and a 200-day moving average of GBX 156.90.

Insider Activity at Ceres Power

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