Ceres Power (OTCMKTS:CPWHF) Shares Up 2.1% – Should You Buy?

Ceres Power Holdings plc (OTCMKTS:CPWHF) shares shot up 2.1% on Monday . The stock traded as high as $5.98 and last traded at $5.47. 31,450 shares traded hands during trading, an increase of 93% from the average session volume of 16,332 shares. The stock had previously closed at $5.36.

Wall Street Analyst Weigh In

Separately, Jefferies Financial Group reissued a “buy” rating on shares of Ceres Power in a research note on Wednesday, April 15th. Three analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Ceres Power currently has an average rating of “Buy”.

Ceres Power Stock Up 2.1%

The company has a 50-day moving average price of $4.30 and a 200 day moving average price of $3.99.

Ceres Power Company Profile

Ceres Power plc (OTCMKTS: CPWHF) is a UK-based clean energy technology company focused on the development and licensing of solid oxide fuel cell (SOFC) technology. The company’s core business activity centers on its proprietary SteelCell® platform, a nickel-ceramic fuel cell design that can operate on a variety of fuels including natural gas, hydrogen and biogas. Ceres Power pursues a technology licensing model, partnering with manufacturing and energy firms to integrate its fuel cells into distributed power generation systems, residential combined heat and power (CHP) units and commercial backup power solutions.

Since its founding as an Imperial College London spin-out in 2001, Ceres Power has built a global network of strategic partnerships to scale its technology.