Ceres Power (LON:CWR) Trading 13.6% Higher - Should You Buy?

Ceres Power Holdings plc (LON:CWR - Get Free Report) shares shot 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 were traded 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 reduced their target price 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 fifty day moving average price of GBX 79.93 and a two-hundred day moving average price of GBX 151.70. The company has a current ratio of 6.48, a quick ratio of 12.18 and a debt-to-equity ratio of 1.54. The firm has a market cap of £107.41 million, a P/E ratio of -2.66 and a beta of 1.60.

Insider Buying and Selling at Ceres Power

In other news, insider Stuart Paynter purchased 7,151 shares of the business's stock in a transaction dated Wednesday, January 29th. The shares were bought at an average cost 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.