Ceres Power (LON:CWR) Shares Up 13.6% – Here’s Why

Ceres Power Holdings plc (LON:CWR) shot up 13.6% during trading on Monday . The stock traded as high as GBX 57.60 ($0.73) and last traded at GBX 54.80 ($0.70). 9,372,030 shares changed hands during trading, an increase of 334% from the average session volume of 2,161,570 shares. The stock had previously closed at GBX 48.24 ($0.61).

Wall Street Analyst Weigh In

Separately, Berenberg Bank dropped their price objective on shares of Ceres Power from GBX 650 ($8.27) to GBX 340 ($4.33) 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 £109.07 million, a price-to-earnings 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 stock’s fifty day moving average price is GBX 90.76 and its 200-day moving average price is GBX 156.90.

Insider Buying and Selling

In other Ceres Power news, insider Stuart Paynter purchased 7,151 shares of the firm’s stock in a transaction dated Wednesday, January 29th. The shares were acquired at an average price of GBX 139 ($1.77) per share, with a total value 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.