Ceres Power (LON:CWR) Hits New 12-Month High – Here’s Why

Ceres Power Holdings plc (LON:CWR)’s stock price hit a new 52-week high on Monday . The company traded as high as GBX 300 ($3.93) and last traded at GBX 292 ($3.82), with a volume of 599725 shares traded. The stock had previously closed at GBX 270 ($3.53).

Analyst Upgrades and Downgrades

Separately, Berenberg Bank restated a “buy” rating and set a GBX 650 ($8.51) target price on shares of Ceres Power in a research report on Tuesday, August 6th.

Ceres Power Stock Down 1.6 %

The firm has a market cap of £567.86 million, a P/E ratio of -1,407.54 and a beta of 1.60. 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’s 50-day simple moving average is GBX 205.75 and its 200 day simple moving average is GBX 189.26.

Insider Activity

In related news, insider Stuart Paynter purchased 7,365 shares of Ceres Power stock in a transaction that occurred on Wednesday, October 2nd. The shares were bought at an average price of GBX 270 ($3.53) per share, with a total value of £19,885.50 ($26,024.73). Insiders own 40.28% of the company’s stock.

Ceres Power Company Profile

Ceres Power Holdings plc engages in the development and commercialization of fuel cell and electrochemical technology in Europe, Asia, North America, and internationally. The company's technology includes Ceres Power, a solid oxide fuel cell technology used for distributed power generation, commercial power, and marine and motive power sectors; and Ceres Hydrogen, a solid oxide electrolyser cell SOEC technology to produce green hydrogen.