Ceres Power (LON:CWR) Trading 10.7% Higher - What's Next?

Ceres Power Holdings plc (LON:CWR - Get Free Report) shares were up 10.7% during trading on Tuesday . The company traded as high as GBX 77.65 ($1.05) and last traded at GBX 77.50 ($1.05). Approximately 2,265,143 shares were traded during trading, an increase of 35% from the average daily volume of 1,672,751 shares. The stock had previously closed at GBX 70 ($0.95).

Analyst Upgrades and Downgrades

Separately, Berenberg Bank reduced their price target on shares of Ceres Power from GBX 650 ($8.83) to GBX 340 ($4.62) and set a "buy" rating for the company in a research report on Tuesday, February 25th.

Ceres Power Price Performance

The business's 50-day moving average price is GBX 63.07 and its 200 day moving average price is GBX 109.73. The stock has a market capitalization of £149.13 million, a PE ratio of -3.70 and a beta of 1.60. The company has a debt-to-equity ratio of 1.54, a quick ratio of 12.18 and a current ratio of 6.48.

Insider Activity

In related news, insider Stuart Paynter acquired 33,166 shares of the company's stock in a transaction dated Friday, April 25th. The stock was bought at an average cost of GBX 60 ($0.81) per share, with a total value of £19,899.60 ($27,022.81). Company 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.