Ceres Power (LON:CWR) Receives Buy Rating from Berenberg Bank

Berenberg Bank reiterated their buy rating on shares of Ceres Power (LON:CWR - Free Report) in a research note published on Wednesday morning, MarketBeat.com reports. Berenberg Bank currently has a GBX 650 ($7.99) price objective on the stock.

Ceres Power Stock Up 7.9 %

LON CWR traded up GBX 11.40 ($0.14) on Wednesday, hitting GBX 156.10 ($1.92). 1,464,542 shares of the stock were exchanged, compared to its average volume of 1,383,942. The company has a market cap of £302.15 million, a PE ratio of -743.33 and a beta of 1.60. The company has a 50-day moving average price of GBX 165.79 and a 200-day moving average price of GBX 192. Ceres Power has a fifty-two week low of GBX 126.40 ($1.55) and a fifty-two week high of GBX 312 ($3.83). The company has a quick ratio of 12.18, a current ratio of 6.48 and a debt-to-equity ratio of 1.54.

Insiders Place Their Bets

In other Ceres Power news, insider Stuart Paynter bought 7,151 shares of the stock in a transaction dated Wednesday, January 29th. The shares were acquired at an average cost of GBX 139 ($1.71) per share, for a total transaction of £9,939.89 ($12,212.67). Also, insider Dame Julia King bought 30,200 shares of the business's stock in a transaction dated Thursday, November 28th. The stock was acquired at an average cost of GBX 165 ($2.03) per share, for a total transaction of £49,830 ($61,223.74). 40.29% of the stock is owned by company 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.