Ceres Power (LON:CWR) Stock Price Up 10.7% - Here's Why

Ceres Power Holdings plc (LON:CWR - Get Free Report)'s stock price rose 10.7% during trading on Tuesday . The stock 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 mid-day 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).

Wall Street Analyst Weigh In

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

Ceres Power Stock Performance

The company has a debt-to-equity ratio of 1.54, a current ratio of 6.48 and a quick ratio of 12.18. The stock has a market cap of £149.13 million, a price-to-earnings ratio of -3.70 and a beta of 1.60. The firm has a fifty day moving average of GBX 63.07 and a 200 day moving average of GBX 109.73.

Insider Activity

In other news, insider Stuart Paynter bought 33,166 shares of the firm's stock in a transaction that occurred on Friday, April 25th. The shares were purchased at an average price of GBX 60 ($0.81) per share, with a total value of £19,899.60 ($27,022.81). 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.