Ceres Power (LON:CWR) Shares Up 10.7% - Should You Buy?

Ceres Power Holdings plc (LON:CWR - Get Free Report) shot up 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). 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).

Analysts Set New Price Targets

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

Ceres Power Stock Down 6.2%

The company has a 50-day moving average of GBX 63.07 and a two-hundred day moving average of GBX 109.73. The company has a debt-to-equity ratio of 1.54, a current ratio of 6.48 and a quick ratio of 12.18. The company has a market capitalization of £149.13 million, a PE ratio of -3.70 and a beta of 1.60.

Insider Transactions at Ceres Power

In other news, insider Stuart Paynter acquired 33,166 shares of Ceres Power stock in a transaction dated Friday, April 25th. The stock was purchased at an average cost of GBX 60 ($0.81) per share, with a total value of £19,899.60 ($26,967.88). Corporate 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.