Ceres Power (LON:CWR) Shares Up 13.6% - Here's Why

Shares of Ceres Power Holdings plc (LON:CWR - Get Free Report) shot up 13.6% during mid-day trading on Monday . The stock traded as high as GBX 57.60 ($0.75) and last traded at GBX 54.80 ($0.72). 9,372,030 shares changed hands during mid-day trading, an increase of 334% from the average session volume of 2,161,570 shares. The stock had previously closed at GBX 48.24 ($0.63).

Analysts Set New Price Targets

Separately, Berenberg Bank reduced their price objective on shares of Ceres Power from GBX 650 ($8.51) to GBX 340 ($4.45) and set a "buy" rating for the company in a research note on Tuesday, February 25th.

Ceres Power Stock Performance

The firm has a market cap of £107.41 million, a price-to-earnings ratio of -2.66 and a beta of 1.60. The firm's 50 day moving average price is GBX 79.93 and its 200-day moving average price is GBX 151.70. The company has a debt-to-equity ratio of 1.54, a current ratio of 6.48 and a quick ratio of 12.18.

Insider Transactions at Ceres Power

In other Ceres Power news, insider Stuart Paynter acquired 7,151 shares of Ceres Power stock in a transaction dated Wednesday, January 29th. The stock was bought at an average cost of GBX 139 ($1.82) per share, with a total value of £9,939.89 ($13,010.33). 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.