Ceres Power (LON:CWR) Shares Up 12.6% – Should You Buy?

Ceres Power Holdings plc (LON:CWR) was up 12.6% on Tuesday . The company traded as high as GBX 400 and last traded at GBX 395.40. Approximately 1,916,478 shares were traded during mid-day trading, a decline of 82% from the average daily volume of 10,556,764 shares. The stock had previously closed at GBX 351.20.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on CWR. Jefferies Financial Group reiterated a “buy” rating and set a GBX 920 price objective on shares of Ceres Power in a report on Wednesday, June 10th. Berenberg Bank boosted their target price on Ceres Power from GBX 530 to GBX 980 and gave the company a “buy” rating in a research note on Friday, May 29th. Two analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Ceres Power currently has a consensus rating of “Buy” and an average price target of GBX 950.

Ceres Power Stock Up 12.6%

The business’s fifty day moving average price is GBX 605.64 and its two-hundred day moving average price is GBX 439.53. The firm has a market cap of £845.36 million, a P/E ratio of -16.13 and a beta of 3.24. The company has a current ratio of 3.27, a quick ratio of 12.18 and a debt-to-equity ratio of 2.24.

Insider Transactions at Ceres Power

In other Ceres Power news, insider Philip Caldwell sold 456,940 shares of the company’s stock in a transaction that occurred on Thursday, April 30th. The stock was sold at an average price of GBX 622, for a total transaction of £2,842,166.80. 7.28% of the stock is owned by insiders.

About Ceres Power

Ceres is a leading developer of clean energy technology: fuel cells for power generation and electrolysers for green hydrogen. Its asset-light, licensing model has seen it establish partnerships with some of the world’s largest companies, such as Doosan, Delta, Denso, Shell, Weichai and Thermax. Ceres’ solid oxide technology supports greater electrification of our energy systems, including AI data centres, commercial and industrial applications, and produces green hydrogen at high efficiencies as a route to decarbonise emissions-intensive industries such as ammonia, steelmaking and electrofuels.