Ceres Power (LON:CWR) Trading Up 13.6% – Should You Buy?

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

Wall Street Analysts Forecast Growth

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

Ceres Power Stock Performance

The business’s fifty day simple moving average is GBX 83.65 and its 200-day simple moving average is GBX 153.60. 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 company has a market capitalization of £115.09 million, a P/E ratio of -2.85 and a beta of 1.60.

Insider Activity at Ceres Power

In other Ceres Power news, insider Stuart Paynter purchased 7,151 shares of Ceres Power stock in a transaction that occurred on Wednesday, January 29th. The stock was bought at an average price of GBX 139 ($1.78) per share, with a total value of £9,939.89 ($12,701.11). 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.