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

Ceres Power Holdings plc (LON:CWR - Get Free Report) shares 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 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 lowered their target price on 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 Price Performance

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

Insiders Place Their Bets

In other news, insider Stuart Paynter bought 33,166 shares of Ceres Power stock in a transaction dated Friday, April 25th. The stock was acquired at an average cost 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 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.