Ceres Power (LON:CWR) Stock Price 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 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).

Wall Street Analysts Forecast Growth

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 on the stock in a report on Tuesday, February 25th.

Ceres Power Stock Up 0.3 %

The firm has a market capitalization of £109.07 million, a price-to-earnings ratio of -2.71 and a beta of 1.60. The stock has a fifty day moving average of GBX 90.76 and a two-hundred day moving average of GBX 156.90. The company has a debt-to-equity ratio of 1.54, a current ratio of 6.48 and a quick ratio of 12.18.

Insider Activity

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

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.