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

Ceres Power Holdings plc (LON:CWR - Get Free Report)'s stock price shot up 13.6% during trading 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 were traded 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 decreased their price objective on shares of Ceres Power from GBX 650 ($8.51) to GBX 340 ($4.45) and set a "buy" rating on the stock in a research report on Tuesday, February 25th.

Ceres Power Price Performance

The company has a market capitalization of £107.41 million, a price-to-earnings ratio of -2.66 and a beta of 1.60. 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 company has a 50 day simple moving average of GBX 79.93 and a 200 day simple moving average of GBX 151.70.

Insider Activity at Ceres Power

In other Ceres Power news, insider Stuart Paynter purchased 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, with a total value 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.