Ceres Power (LON:CWR) Shares Up 18.9% – Here’s Why

Ceres Power Holdings plc (LON:CWR)’s share price traded up 18.9% during trading on Thursday . The company traded as high as GBX 390.25 and last traded at GBX 371.80. 11,141,039 shares changed hands during mid-day trading, an increase of 463% from the average session volume of 1,980,439 shares. The stock had previously closed at GBX 312.80.

Analysts Set New Price Targets

Separately, Jefferies Financial Group reiterated a “buy” rating and set a GBX 460 target price on shares of Ceres Power in a research note on Friday. Two investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of GBX 400.

Ceres Power Price Performance

The company has a market capitalization of £688.41 million, a P/E ratio of -19.40 and a beta of 1.60. The company has a quick ratio of 12.18, a current ratio of 6.48 and a debt-to-equity ratio of 1.54. The business has a 50 day simple moving average of GBX 192.08 and a 200-day simple moving average of GBX 125.13.

Ceres Power (LON:CWR) last released its quarterly earnings data on Friday, September 26th. The company reported GBX (10.14) earnings per share for the quarter. Ceres Power had a negative return on equity of 22.96% and a negative net margin of 101.69%. Analysts predict that Ceres Power Holdings plc will post -12.4426979 EPS for the current fiscal year.

Ceres Power Company Profile

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.