Ceres Power (LON:CWR) Shares Up 10.7% - Still a Buy?

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

Wall Street Analysts Forecast Growth

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 report on Tuesday, February 25th.

Ceres Power Stock Performance

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

Insider Transactions at Ceres Power

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

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.