Ceres Power (LON:CWR) Trading Up 13.6% – Still a Buy?

Ceres Power Holdings plc (LON:CWR) rose 13.6% during mid-day trading on Monday . The company traded as high as GBX 57.60 ($0.73) and last traded at GBX 54.80 ($0.70). Approximately 9,372,030 shares were traded during mid-day trading, an increase of 334% from the average daily volume of 2,161,570 shares. The stock had previously closed at GBX 48.24 ($0.61).

Analyst Upgrades and Downgrades

Separately, Berenberg Bank lowered their target price on shares of Ceres Power from GBX 650 ($8.27) to GBX 340 ($4.33) and set a “buy” rating on the stock in a report on Tuesday, February 25th.

Ceres Power Trading Up 0.3 %

The stock has a market capitalization of £109.07 million, a P/E ratio of -2.71 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 business has a 50-day moving average price of GBX 90.76 and a two-hundred day moving average price of GBX 156.90.

Insider Buying and Selling

In other Ceres Power news, insider Stuart Paynter bought 7,151 shares of the business’s stock in a transaction on Wednesday, January 29th. The stock was purchased at an average cost of GBX 139 ($1.77) per share, for a total transaction of £9,939.89 ($12,652.61). 40.29% of the stock is currently 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.