Ceres Power (LON:CWR) Stock Price Up 18.9% – Still a Buy?

Shares of Ceres Power Holdings plc (LON:CWR) rose 18.9% during mid-day trading on Wednesday . The company traded as high as GBX 390.25 and last traded at GBX 371.80. Approximately 10,463,385 shares were traded during trading, an increase of 429% from the average daily volume of 1,977,287 shares. The stock had previously closed at GBX 312.80.

Analysts Set New Price Targets

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

Ceres Power Stock Down 6.1%

The company has a debt-to-equity ratio of 1.54, a quick ratio of 12.18 and a current ratio of 6.48. The stock’s fifty day simple moving average is GBX 192.08 and its two-hundred day simple moving average is GBX 125.13. The company has a market capitalization of £688.41 million, a price-to-earnings ratio of -19.40 and a beta of 1.60.

Ceres Power (LON:CWR) last released its earnings results on Friday, September 26th. The company reported GBX (10.14) EPS for the quarter. Ceres Power had a negative return on equity of 22.96% and a negative net margin of 101.69%. On average, sell-side analysts anticipate that Ceres Power Holdings plc will post -12.4426979 EPS for the current year.

About Ceres Power

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.