Ceres Power (LON:CWR) Shares Up 11.7% – Still a Buy?

Ceres Power Holdings plc (LON:CWR)’s stock price was up 11.7% on Monday . The company traded as high as GBX 58.02 ($0.74) and last traded at GBX 53.86 ($0.69). Approximately 5,468,781 shares changed hands during trading, an increase of 160% from the average daily volume of 2,104,169 shares. The stock had previously closed at GBX 48.24 ($0.62).

Wall Street Analyst Weigh In

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

Ceres Power Trading Down 11.1 %

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’s fifty day moving average price is GBX 83.65 and its 200-day moving average price is GBX 153.60. The company has a market cap of £101.56 million, a price-to-earnings ratio of -2.52 and a beta of 1.60.

Insiders Place Their Bets

In other news, insider Stuart Paynter bought 7,151 shares of the business’s stock in a transaction on Wednesday, January 29th. The stock was purchased at an average cost 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.