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

Ceres Power Holdings plc (LON:CWR) shares were 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). 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 reduced their price target 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 research report on Tuesday, February 25th.

Ceres Power Price Performance

The firm’s 50 day simple moving average is GBX 90.76 and its two-hundred day simple moving average is GBX 156.90. 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 firm has a market capitalization of £110.43 million, a P/E ratio of -2.74 and a beta of 1.60.

Insider Transactions at Ceres Power

In other news, insider Stuart Paynter purchased 7,151 shares of the stock in a transaction that occurred on Wednesday, January 29th. The stock was bought at an average cost 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.

About Ceres Power

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.