Ceres Power (LON:CWR) Hits New 12-Month High - Time to Buy?

Ceres Power Holdings plc (LON:CWR - Get Free Report)'s stock price reached a new 52-week high on Monday . The stock traded as high as GBX 300 ($3.93) and last traded at GBX 292 ($3.82), with a volume of 599725 shares changing hands. The stock had previously closed at GBX 270 ($3.53).

Analysts Set New Price Targets

Separately, Berenberg Bank reaffirmed a "buy" rating and issued a GBX 650 ($8.51) target price on shares of Ceres Power in a research note on Tuesday, August 6th.

Ceres Power Price Performance

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 company has a 50 day simple moving average of GBX 201.99 and a 200 day simple moving average of GBX 186.95. The stock has a market cap of £586.49 million, a P/E ratio of -1,437.56 and a beta of 1.60.

Insiders Place Their Bets

In other Ceres Power news, insider Stuart Paynter purchased 7,365 shares of the company's stock in a transaction that occurred on Wednesday, October 2nd. The shares were acquired at an average price of GBX 270 ($3.53) per share, for a total transaction of £19,885.50 ($26,024.73). Insiders own 40.28% of the company's stock.

About Ceres Power

Ceres Power Holdings plc engages in the development and commercialization of fuel cell and electrochemical technology in Europe, Asia, North America, and internationally. The company's technology includes Ceres Power, a solid oxide fuel cell technology used for distributed power generation, commercial power, and marine and motive power sectors; and Ceres Hydrogen, a solid oxide electrolyser cell SOEC technology to produce green hydrogen.