Ceres Power (LON:CWR) Trading Up 13.6% – What’s Next?

Ceres Power Holdings plc (LON:CWR) shares traded 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 mid-day 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 Analysts Forecast Growth

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

Ceres Power Price Performance

The company has a market cap of £116.37 million, a PE ratio of -2.89 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 stock’s 50-day moving average is GBX 90.76 and its 200 day moving average is GBX 156.90.

Insider Activity

In related news, insider Stuart Paynter acquired 7,151 shares of the business’s stock in a transaction dated Wednesday, January 29th. The shares were purchased at an average price of GBX 139 ($1.77) per share, for a total transaction of £9,939.89 ($12,652.61). Company 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.