Ceres Power (LON:CWR) Shares Up 12.6% – Should You Buy?

Shares of Ceres Power Holdings plc (LON:CWR) traded up 12.6% during mid-day trading on Tuesday . The company traded as high as GBX 400 and last traded at GBX 395.40. 1,916,478 shares changed hands during trading, a decline of 82% from the average daily volume of 10,556,764 shares. The stock had previously closed at GBX 351.20.

Wall Street Analyst Weigh In

CWR has been the subject of a number of recent analyst reports. Jefferies Financial Group reaffirmed a “buy” rating and issued a GBX 920 price objective on shares of Ceres Power in a research note on Wednesday, June 10th. Berenberg Bank boosted their target price on shares of Ceres Power from GBX 530 to GBX 980 and gave the company a “buy” rating in a research note on Friday, May 29th. Two equities research analysts have rated the stock with a Buy rating, According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of GBX 950.

Ceres Power Trading Up 12.6%

The company has a debt-to-equity ratio of 2.24, a quick ratio of 12.18 and a current ratio of 3.27. The company has a 50 day simple moving average of GBX 605.64 and a two-hundred day simple moving average of GBX 439.53. The company has a market cap of £845.36 million, a PE ratio of -16.13 and a beta of 3.24.

Insider Activity at Ceres Power

In related news, insider Philip Caldwell sold 456,940 shares of the firm’s stock in a transaction that occurred on Thursday, April 30th. The shares were sold at an average price of GBX 622, for a total transaction of £2,842,166.80. Corporate insiders own 7.28% of the company’s stock.

About Ceres Power

Ceres is a leading developer of clean energy technology: fuel cells for power generation and electrolysers for green hydrogen. Its asset-light, licensing model has seen it establish partnerships with some of the world’s largest companies, such as Doosan, Delta, Denso, Shell, Weichai and Thermax. Ceres’ solid oxide technology supports greater electrification of our energy systems, including AI data centres, commercial and industrial applications, and produces green hydrogen at high efficiencies as a route to decarbonise emissions-intensive industries such as ammonia, steelmaking and electrofuels.