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

Ceres Power Holdings plc (LON:CWR - Get Free Report)'s stock price was up 13.6% on Tuesday . 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 changed hands 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 Analyst Weigh In

Separately, Berenberg Bank cut 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 report on Tuesday, February 25th.

Ceres Power Stock Down 3.3 %

The company has a quick ratio of 12.18, a current ratio of 6.48 and a debt-to-equity ratio of 1.54. The stock 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 is GBX 79.93 and its 200-day moving average is GBX 151.70.

Insider Transactions at Ceres Power

In related news, insider Stuart Paynter acquired 7,151 shares of Ceres Power stock in a transaction that occurred 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). Company 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.