Ceres Power (LON:CWR) Trading Up 15.5% – What’s Next?

Ceres Power Holdings plc (LON:CWR)’s stock price shot up 15.5% on Monday . The company traded as high as GBX 418.80 and last traded at GBX 408.96. 6,016,905 shares traded hands during mid-day trading, an increase of 195% from the average session volume of 2,038,685 shares. The stock had previously closed at GBX 354.09.

Analysts Set New Price Targets

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

Ceres Power Price Performance

The firm has a market capitalization of £795.08 million, a price-to-earnings ratio of -22.41 and a beta of 1.60. The company has a debt-to-equity ratio of 1.54, a current ratio of 6.48 and a quick ratio of 12.18. The stock has a 50 day moving average price of GBX 192.08 and a two-hundred day moving average price of GBX 126.11.

Ceres Power (LON:CWR) last announced 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 net margin of 101.69% and a negative return on equity of 22.96%. As a group, analysts expect 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.