Ceres Power (LON:CWR) Trading Up 13.6% – Here’s What Happened

Ceres Power Holdings plc (LON:CWR)’s stock price shot up 13.6% during mid-day 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 traded 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).

Analysts Set New Price Targets

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

Ceres Power Stock Down 1.7 %

The firm has a 50-day simple moving average of GBX 90.76 and a 200 day simple moving average of GBX 156.90. The stock has a market capitalization of £106.92 million, a P/E ratio of -2.65 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.

Insider Activity at Ceres Power

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