Ceres Power (LON:CWR) Trading 10.7% Higher - Here's What Happened

Ceres Power Holdings plc (LON:CWR - Get Free Report)'s stock price shot up 10.7% during mid-day 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 changed hands during 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 Analyst Weigh In

Separately, Berenberg Bank reduced their price objective 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 stock 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 firm's fifty day moving average is GBX 63.07 and its 200 day moving average is GBX 109.73.

Insider Buying and Selling

In other news, insider Stuart Paynter bought 33,166 shares of the company's stock in a transaction that occurred on Friday, April 25th. The shares were purchased at an average price of GBX 60 ($0.81) per share, for a total transaction of £19,899.60 ($27,022.81). Insiders own 40.29% of the company's stock.

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.