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

Ceres Power Holdings plc (LON:CWR - Get Free Report)'s stock price shot up 13.6% 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 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).

Analyst Upgrades and Downgrades

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 on the stock in a report on Tuesday, February 25th.

Ceres Power Price Performance

The company has a 50 day moving average price of GBX 79.93 and a 200 day moving average price of 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. The firm has a market cap of £107.41 million, a PE ratio of -2.66 and a beta of 1.60.

Insider Activity

In other Ceres Power news, insider Stuart Paynter acquired 7,151 shares of the business's stock in a transaction on Wednesday, January 29th. The stock was purchased at an average price of GBX 139 ($1.82) per share, for a total transaction of £9,939.89 ($13,010.33). 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.