Ceres Power (LON:CWR) Stock Price Up 13.6% - Here's What Happened

Ceres Power Holdings plc (LON:CWR - Get Free Report)'s stock price was up 13.6% during mid-day trading on Monday . The company traded as high as GBX 57.60 ($0.75) and last traded at GBX 54.80 ($0.72). Approximately 9,372,030 shares were traded during mid-day trading, an increase of 334% from the average daily 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 reduced their price objective on 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 Trading Down 3.3 %

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

Insiders Place Their Bets

In related news, insider Stuart Paynter purchased 7,151 shares of Ceres Power stock in a transaction dated Wednesday, January 29th. The shares were acquired at an average price of GBX 139 ($1.82) per share, for a total transaction of £9,939.89 ($13,010.33). Corporate insiders own 40.29% of the company's stock.

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.