Ceres Power (LON:CWR) Shares Up 13.6% - Time to Buy?

Ceres Power Holdings plc (LON:CWR - Get Free Report) shares traded up 13.6% during trading on Monday . The company traded as high as GBX 57.60 ($0.75) and last traded at GBX 54.80 ($0.72). 9,372,030 shares were traded 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 ($0.63).

Wall Street Analysts Forecast Growth

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

Ceres Power Price Performance

The business has a 50 day simple moving average of GBX 79.93 and a 200-day simple moving average of GBX 151.70. The company has a debt-to-equity ratio of 1.54, a quick ratio of 12.18 and a current ratio of 6.48. The stock has a market cap of £107.41 million, a P/E ratio of -2.66 and a beta of 1.60.

Insider Buying and Selling

In other news, insider Stuart Paynter bought 7,151 shares of the stock in a transaction on Wednesday, January 29th. The shares were acquired at an average cost of GBX 139 ($1.82) per share, for a total transaction of £9,939.89 ($13,010.33). 40.29% of the stock is currently owned by corporate 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.