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

Shares of Ceres Power Holdings plc (LON:CWR) traded up 13.6% during trading on Tuesday . The stock traded as high as GBX 57.60 ($0.74) 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 ($0.62).

Analysts Set New Price Targets

Separately, Berenberg Bank reduced their price objective on shares of Ceres Power from GBX 650 ($8.31) to GBX 340 ($4.34) and set a “buy” rating for the company in a research report on Tuesday, February 25th.

Ceres Power Stock Performance

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 cap of £115.09 million, a P/E ratio of -2.85 and a beta of 1.60. The stock’s 50 day moving average is GBX 83.65 and its two-hundred day moving average is GBX 153.60.

Insider Buying and Selling

In other news, insider Stuart Paynter bought 7,151 shares of the business’s stock in a transaction on Wednesday, January 29th. The shares were purchased at an average price of GBX 139 ($1.78) per share, for a total transaction of £9,939.89 ($12,701.11). 40.29% of the stock is currently owned by insiders.

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.