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Ceres Power (LON:CWR) Trading Up 11.7% - What's Next?

Ceres Power logo with Industrials background

Ceres Power Holdings plc (LON:CWR - Get Free Report) shot up 11.7% during mid-day trading on Monday . The stock traded as high as GBX 58.02 ($0.76) and last traded at GBX 53.86 ($0.70). 5,468,781 shares traded hands during trading, an increase of 160% from the average session volume of 2,104,169 shares. The stock had previously closed at GBX 48.24 ($0.63).

Analysts Set New Price Targets

Separately, Berenberg Bank cut their price objective on Ceres Power from GBX 650 ($8.51) to GBX 340 ($4.45) and set a "buy" rating on the stock in a research report on Tuesday, February 25th.

Check Out Our Latest Report on Ceres Power

Ceres Power Price Performance

The firm has a 50-day simple moving average of GBX 79.93 and a 200 day simple moving average of GBX 151.70. The firm has a market cap of £107.41 million, a PE ratio of -2.66 and a beta of 1.60. The company has a debt-to-equity ratio of 1.54, a current ratio of 6.48 and a quick ratio of 12.18.

Insider Buying and Selling

In other news, insider Stuart Paynter purchased 7,151 shares of the company's stock in a transaction that occurred on Wednesday, January 29th. The shares were bought at an average price of GBX 139 ($1.82) per share, for a total transaction of £9,939.89 ($13,010.33). 40.29% of the stock is currently owned by insiders.

About Ceres Power

(Get Free Report)

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.

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