Ceres Power (LON:CWR) Trading Up 13.6% – Time to Buy?

Ceres Power Holdings plc (LON:CWR)’s share price traded up 13.6% during mid-day trading on Tuesday . 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 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 reduced their target price on Ceres Power from GBX 650 ($8.27) to GBX 340 ($4.33) and set a “buy” rating on the stock in a research note on Tuesday, February 25th.

Ceres Power Trading Up 7.0 %

The firm has a market cap of £116.37 million, a price-to-earnings ratio of -2.89 and a beta of 1.60. The business has a 50 day moving average of GBX 90.76 and a 200 day moving average of GBX 156.90. The company has a quick ratio of 12.18, a current ratio of 6.48 and a debt-to-equity ratio of 1.54.

Insiders Place Their Bets

In other news, insider Stuart Paynter acquired 7,151 shares of the business’s stock in a transaction dated Wednesday, January 29th. The stock was acquired at an average price 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 corporate 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.