Ceres Power (LON:CWR) Trading Up 13.6% - Still a Buy?

Ceres Power Holdings plc (LON:CWR - Get Free Report)'s share price shot up 13.6% on Tuesday . The stock traded as high as GBX 57.60 ($0.75) and last traded at GBX 54.80 ($0.72). 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 ($0.63).

Wall Street Analyst Weigh In

Separately, Berenberg Bank cut their price objective on Ceres Power from GBX 650 ($8.50) to GBX 340 ($4.45) and set a "buy" rating on the stock in a report on Tuesday, February 25th.

Ceres Power Price Performance

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

Insiders Place Their Bets

In other news, insider Stuart Paynter bought 7,151 shares of the business's stock in a transaction dated Wednesday, January 29th. The stock was purchased at an average cost of GBX 139 ($1.82) per share, with a total value of £9,939.89 ($13,005.22). 40.29% of the stock is owned by 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.