Ceres Power (LON:CWR) Stock Price Up 22.2% – Time to Buy?

Ceres Power Holdings plc (LON:CWR) shares shot up 22.2% during trading on Wednesday . The company traded as high as GBX 390.25 and last traded at GBX 382.20. 23,171,760 shares traded hands during trading, an increase of 1,038% from the average session volume of 2,036,396 shares. The stock had previously closed at GBX 312.80.

Wall Street Analyst Weigh In

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

Ceres Power Price Performance

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’s 50-day moving average is GBX 187.36 and its two-hundred day moving average is GBX 123.07. The company has a market capitalization of £688.41 million, a P/E ratio of -19.40 and a beta of 1.60.

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