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 Tuesday . The company 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 mid-day 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 decreased their target price 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 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 business's 50-day moving average is GBX 79.93 and its two-hundred day moving average is GBX 151.70.

Insider Activity

In other Ceres Power news, insider Stuart Paynter purchased 7,151 shares of the firm's 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.

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.