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

Shares of Ceres Power Holdings plc (LON:CWR) shot 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). 9,372,030 shares traded 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 ($0.61).

Wall Street Analyst Weigh In

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 on the stock in a research note on Tuesday, February 25th.

Ceres Power Stock Performance

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 firm has a 50-day moving average price of GBX 90.76 and a 200 day moving average price of GBX 156.90. The firm has a market capitalization of £106.92 million, a PE ratio of -2.65 and a beta of 1.60.

Insiders Place Their Bets

In related news, insider Stuart Paynter acquired 7,151 shares of the business’s stock in a transaction dated Wednesday, January 29th. The shares were acquired at an average price 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.