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

Shares of Ceres Power Holdings plc (LON:CWR - Get Free Report) shot up 10.7% during trading on Wednesday . 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).

Analyst Ratings Changes

Separately, Berenberg Bank dropped their target price 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 report on Tuesday, February 25th.

Ceres Power Price Performance

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

Insider Buying and Selling at Ceres Power

In related news, insider Stuart Paynter acquired 33,166 shares of Ceres Power stock in a transaction dated Friday, April 25th. The stock was bought at an average price of GBX 60 ($0.81) per share, with a total value of £19,899.60 ($27,022.81). Insiders own 40.29% of the company's stock.

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.