Ceres Power (LON:CWR) Trading Up 13.6% – What’s Next?

Ceres Power Holdings plc (LON:CWR)’s stock price rose 13.6% during trading on Tuesday . The company traded as high as GBX 57.60 ($0.73) and last traded at GBX 54.80 ($0.70). Approximately 9,372,030 shares changed hands 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 decreased their price objective on shares of Ceres Power from GBX 650 ($8.27) to GBX 340 ($4.33) and set a “buy” rating for the company in a report on Tuesday, February 25th.

Ceres Power Price Performance

The company has a market capitalization of £116.57 million, a P/E ratio of -2.89 and a beta of 1.60. The stock’s fifty day simple moving average is GBX 90.76 and its 200-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.

Insider Buying and Selling

In related news, insider Stuart Paynter bought 7,151 shares of the company’s stock in a transaction that occurred on Wednesday, January 29th. The shares were 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 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.