Ceres Power (LON:CWR) Stock Price Up 11.7% – Time to Buy?

Shares of Ceres Power Holdings plc (LON:CWR) shot up 11.7% during mid-day trading on Monday . The stock traded as high as GBX 58.02 ($0.74) and last traded at GBX 53.86 ($0.69). 5,468,781 shares traded hands during mid-day trading, an increase of 160% from the average session volume of 2,104,169 shares. The stock had previously closed at GBX 48.24 ($0.61).

Wall Street Analysts Forecast Growth

Separately, Berenberg Bank lowered their target price on 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 current ratio of 6.48, a quick ratio of 12.18 and a debt-to-equity ratio of 1.54. The firm’s fifty day moving average price is GBX 90.76 and its two-hundred day moving average price is GBX 156.90. The stock has a market capitalization of £106.83 million, a PE ratio of -2.65 and a beta of 1.60.

Insider Buying and Selling at Ceres Power

In other Ceres Power news, insider Stuart Paynter purchased 7,151 shares of the stock in a transaction on Wednesday, January 29th. The shares were bought at an average price of GBX 139 ($1.77) per share, for a total transaction of £9,939.89 ($12,652.61). 40.29% of the stock is 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.