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

Shares of Ceres Power Holdings plc (LON:CWR - Get Free Report) traded up 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). 2,265,143 shares were traded during mid-day 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 Ratings Changes

Separately, Berenberg Bank reduced their price target on shares of Ceres Power from GBX 650 ($8.83) to GBX 340 ($4.62) and set a "buy" rating on the stock in a research note on Tuesday, February 25th.

Ceres Power Stock Down 6.2%

The firm has a market cap of £149.13 million, a P/E 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 business has a 50-day moving average price of GBX 63.07 and a 200-day moving average price of GBX 109.73.

Insider Buying and Selling

In other news, insider Stuart Paynter acquired 33,166 shares of the business's stock in a transaction dated 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 insiders.

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.