Ceres Power (LON:CWR) Trading 13.6% Higher – Still a Buy?

Ceres Power Holdings plc (LON:CWR)’s share price was up 13.6% during trading on Monday . The stock traded as high as GBX 57.60 ($0.74) and last traded at GBX 54.80 ($0.70). Approximately 9,372,030 shares traded hands during trading, an increase of 334% from the average daily volume of 2,161,570 shares. The stock had previously closed at GBX 48.24 ($0.62).

Wall Street Analyst Weigh In

Separately, Berenberg Bank cut their price objective on shares of Ceres Power from GBX 650 ($8.31) to GBX 340 ($4.34) and set a “buy” rating for the company in a research note on Tuesday, February 25th.

Ceres Power Price Performance

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 firm has a market cap of £101.56 million, a P/E ratio of -2.52 and a beta of 1.60. The business has a 50-day simple moving average of GBX 83.65 and a 200 day simple moving average of GBX 153.60.

Insiders Place Their Bets

In other news, insider Stuart Paynter acquired 7,151 shares of the firm’s stock in a transaction on Wednesday, January 29th. The stock was acquired at an average price of GBX 139 ($1.78) per share, for a total transaction of £9,939.89 ($12,701.11). Company insiders own 40.29% of the company’s stock.

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.