Ceres Power (LON:CWR) Shares Up 13.6% - Time to Buy?

Ceres Power Holdings plc (LON:CWR - Get Free Report)'s share price was up 13.6% on Tuesday . The stock 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 dropped their target price 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 report on Tuesday, February 25th.

Ceres Power Stock Down 3.3 %

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

Insiders Place Their Bets

In other news, insider Stuart Paynter bought 7,151 shares of the business's stock in a transaction that occurred on Wednesday, January 29th. The stock was acquired at an average cost 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.