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

Ceres Power Holdings plc (LON:CWR - Get Free Report)'s share price rose 10.7% during mid-day trading on Tuesday . The stock traded as high as GBX 77.65 ($1.05) and last traded at GBX 77.50 ($1.05). Approximately 2,265,143 shares changed hands during trading, an increase of 35% from the average daily volume of 1,672,751 shares. The stock had previously closed at GBX 70 ($0.95).

Analysts Set New Price Targets

Separately, Berenberg Bank lowered their target price on shares of Ceres Power from GBX 650 ($8.81) to GBX 340 ($4.61) and set a "buy" rating on the stock in a report on Tuesday, February 25th.

Ceres Power Stock Performance

The firm has a market cap of £149.13 million, a PE ratio of -3.70 and a beta of 1.60. The firm's 50 day simple moving average is GBX 63.07 and its 200 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

In other Ceres Power news, insider Stuart Paynter purchased 33,166 shares of Ceres Power stock in a transaction that occurred on Friday, April 25th. The shares were bought at an average price of GBX 60 ($0.81) per share, for a total transaction of £19,899.60 ($26,967.88). 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.