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

Ceres Power Holdings plc (LON:CWR - Get Free Report)'s stock price traded up 10.7% during trading on Wednesday . The company traded as high as GBX 77.65 ($1.05) and last traded at GBX 77.50 ($1.05). 2,265,143 shares changed 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).

Analysts Set New Price Targets

Separately, Berenberg Bank dropped 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 report on Tuesday, February 25th.

Ceres Power Stock Performance

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

Insider Transactions at Ceres Power

In related news, insider Stuart Paynter purchased 33,166 shares of the business's stock in a transaction 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). 40.29% of the stock is owned by corporate insiders.

About Ceres Power

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.