Ceres Power (LON:CWR) Stock Price Up 13.6% – Still a Buy?

Ceres Power Holdings plc (LON:CWR)’s share price was up 13.6% during mid-day trading on Monday . The company 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 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).

Analysts Set New Price Targets

Separately, Berenberg Bank reduced their price target on shares of Ceres Power from GBX 650 ($8.27) to GBX 340 ($4.33) and set a “buy” rating for the company in a research report on Tuesday, February 25th.

Ceres Power Stock Down 1.7 %

The company has a current ratio of 6.48, a quick ratio of 12.18 and a debt-to-equity ratio of 1.54. The firm has a market cap of £106.92 million, a PE ratio of -2.65 and a beta of 1.60. The company’s 50 day moving average price is GBX 90.76 and its two-hundred day moving average price is GBX 156.90.

Insider Activity at Ceres Power

In related news, insider Stuart Paynter acquired 7,151 shares of the firm’s stock in a transaction dated Wednesday, January 29th. The shares were purchased at an average price of GBX 139 ($1.77) per share, with a total value of £9,939.89 ($12,652.61). 40.29% of the stock is owned by company insiders.

Ceres Power Company Profile

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.