Ceres Power (LON:CWR) Trading Up 13.6% – Here’s Why

Ceres Power Holdings plc (LON:CWR)’s share price was up 13.6% on Monday . The stock traded as high as GBX 57.60 ($0.73) and last traded at GBX 54.80 ($0.70). Approximately 9,372,030 shares traded 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 reduced their price objective on 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 Trading Down 1.7 %

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 stock has a market capitalization of £106.92 million, a price-to-earnings ratio of -2.65 and a beta of 1.60. The business has a fifty day simple moving average of GBX 90.76 and a 200 day simple moving average of GBX 156.90.

Insider Activity at Ceres Power

In related news, insider Stuart Paynter purchased 7,151 shares of the business’s stock in a transaction that occurred on Wednesday, January 29th. The stock was acquired at an average cost of GBX 139 ($1.77) per share, for a total transaction of £9,939.89 ($12,652.61). 40.29% of the stock is currently 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.