Ceres Power (LON:CWR) Stock Price Up 10.7% - What's Next?

Ceres Power Holdings plc (LON:CWR - Get Free Report)'s stock price shot up 10.7% during mid-day trading on Wednesday . The stock traded as high as GBX 77.65 ($1.05) and last traded at GBX 77.50 ($1.05). 2,265,143 shares traded hands during trading, an increase of 35% from the average session volume of 1,672,751 shares. The stock had previously closed at GBX 70 ($0.95).

Analyst Upgrades and Downgrades

Separately, Berenberg Bank cut their target price 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 note on Tuesday, February 25th.

Ceres Power Stock Performance

The stock's fifty day simple moving average is GBX 63.07 and its two-hundred day simple moving average is GBX 109.73. The company has a market cap of £149.13 million, a price-to-earnings 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 Buying and Selling

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