Ceres Power (LON:CWR) Trading 11.7% Higher – What’s Next?

Ceres Power Holdings plc (LON:CWR) traded up 11.7% during mid-day trading on Monday . The company traded as high as GBX 58.02 ($0.74) and last traded at GBX 53.86 ($0.69). 5,468,781 shares were traded during mid-day trading, an increase of 160% from the average session volume of 2,104,169 shares. The stock had previously closed at GBX 48.24 ($0.61).

Analysts Set New Price Targets

Separately, Berenberg Bank lowered 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 Price Performance

The firm has a market capitalization of £106.83 million, a price-to-earnings ratio of -2.65 and a beta of 1.60. The company has a quick ratio of 12.18, a current ratio of 6.48 and a debt-to-equity ratio of 1.54. The stock’s 50 day moving average price is GBX 90.76 and its two-hundred day moving average price is GBX 156.90.

Insiders Place Their Bets

In other Ceres Power news, insider Stuart Paynter bought 7,151 shares of the firm’s stock in a transaction on Wednesday, January 29th. The stock was bought at an average cost of GBX 139 ($1.77) per share, with a total value of £9,939.89 ($12,652.61). 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.