Ceres Power (LON:CWR) Trading 13.6% Higher – Should You Buy?

Ceres Power Holdings plc (LON:CWR) shot 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 were traded 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 cut their price objective 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 Stock Performance

The firm has a market cap of £106.92 million, a price-to-earnings ratio of -2.65 and a beta of 1.60. The firm’s 50 day moving average is GBX 90.76 and its 200-day moving average is 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.

Insiders Place Their Bets

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