Ceres Power (LON:CWR) Shares Up 11.7% – Here’s Why

Ceres Power Holdings plc (LON:CWR)’s stock price shot up 11.7% during trading on Monday . The company traded as high as GBX 58.02 ($0.74) and last traded at GBX 53.86 ($0.69). 5,468,781 shares traded hands during trading, an increase of 160% from the average session volume of 2,104,169 shares. The stock had previously closed at GBX 48.24 ($0.61).

Analyst Upgrades and Downgrades

Separately, Berenberg Bank reduced their price objective 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 Price Performance

The stock has a 50 day moving average of GBX 90.76 and a two-hundred day moving average of GBX 156.90. The company has a debt-to-equity ratio of 1.54, a quick ratio of 12.18 and a current ratio of 6.48. The stock has a market cap of £106.83 million, a PE ratio of -2.65 and a beta of 1.60.

Insider Transactions at Ceres Power

In other Ceres Power news, insider Stuart Paynter bought 7,151 shares of Ceres Power stock in a transaction dated Wednesday, January 29th. The stock was bought at an average price of GBX 139 ($1.77) per share, for a total transaction of £9,939.89 ($12,652.61). 40.29% of the stock is currently owned by 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.