Ceres Power (LON:CWR) Trading 11.7% Higher – Here’s What Happened

Shares of Ceres Power Holdings plc (LON:CWR) were 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). Approximately 5,468,781 shares changed hands during mid-day trading, an increase of 160% from the average daily volume of 2,104,169 shares. The stock had previously closed at GBX 48.24 ($0.62).

Analysts Set New Price Targets

Separately, Berenberg Bank dropped their price target on shares of Ceres Power from GBX 650 ($8.31) to GBX 340 ($4.34) and set a “buy” rating on the stock in a report on Tuesday, February 25th.

Ceres Power Stock Down 11.1 %

The company has a market cap of £101.56 million, a P/E ratio of -2.52 and a beta of 1.60. 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 company has a fifty day moving average of GBX 83.65 and a 200 day moving average of GBX 153.60.

Insider Buying and Selling at Ceres Power

In other Ceres Power news, insider Stuart Paynter purchased 7,151 shares of the company’s stock in a transaction dated Wednesday, January 29th. The shares were acquired at an average price of GBX 139 ($1.78) per share, for a total transaction of £9,939.89 ($12,701.11). Corporate insiders own 40.29% of the company’s stock.

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.