Ceres Power (LON:CWR) Trading Up 10.7% - Should You Buy?

Ceres Power Holdings plc (LON:CWR - Get Free Report) shares were up 10.7% 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 traded hands 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).

Analysts Set New Price Targets

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 Down 6.2%

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 company's 50-day simple moving average is GBX 63.07 and its 200 day simple moving average is GBX 109.73. The firm has a market cap of £149.13 million, a P/E ratio of -3.70 and a beta of 1.60.

Insider Buying and Selling at Ceres Power

In other news, insider Stuart Paynter bought 33,166 shares of the stock in a transaction dated Friday, April 25th. The stock was purchased at an average price of GBX 60 ($0.81) per share, for a total transaction of £19,899.60 ($27,022.81). 40.29% of the stock is owned by company 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.