Ceres Power (LON:CWR) Reaches New 12-Month High – Here’s What Happened

Shares of Ceres Power Holdings plc (LON:CWR – Get Free Report) hit a new 52-week high during trading on Monday . The company traded as high as GBX 773 and last traded at GBX 762.36, with a volume of 1250952 shares trading hands. The stock had previously closed at GBX 732.56.

Analysts Set New Price Targets

A number of brokerages have recently commented on CWR. Jefferies Financial Group raised their target price on shares of Ceres Power from GBX 480 to GBX 920 and gave the company a “buy” rating in a research note on Thursday, May 7th. Berenberg Bank reaffirmed a “buy” rating and set a GBX 530 price target on shares of Ceres Power in a research note on Thursday, March 26th. Two research analysts have rated the stock with a Buy rating, According to data from MarketBeat, Ceres Power presently has an average rating of “Buy” and a consensus price target of GBX 725.

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Ceres Power Price Performance

The stock has a market cap of £1.48 billion, a PE ratio of -30.93 and a beta of 3.22. The company has a current ratio of 3.27, a quick ratio of 12.18 and a debt-to-equity ratio of 2.24. The company’s 50 day moving average is GBX 433.18 and its 200-day moving average is GBX 346.63.

Ceres Power (LON:CWR – Get Free Report) last released its quarterly earnings results on Thursday, March 26th. The company reported GBX (24.52) earnings per share (EPS) for the quarter. Ceres Power had a negative return on equity of 39.26% and a negative net margin of 145.65%. As a group, sell-side analysts predict that Ceres Power Holdings plc will post -12.4426979 earnings per share for the current year.

Insider Transactions at Ceres Power

In related news, insider Philip Caldwell sold 456,940 shares of Ceres Power stock in a transaction on Thursday, April 30th. The shares were sold at an average price of GBX 622, for a total transaction of £2,842,166.80. 8.03% of the stock is owned by company insiders.

Ceres Power Company Profile

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Ceres is a leading developer of clean energy technology: fuel cells for power generation and electrolysers for green hydrogen. Its asset-light, licensing model has seen it establish partnerships with some of the world’s largest companies, such as Doosan, Delta, Denso, Shell, Weichai and Thermax. Ceres’ solid oxide technology supports greater electrification of our energy systems, including AI data centres, commercial and industrial applications, and produces green hydrogen at high efficiencies as a route to decarbonise emissions-intensive industries such as ammonia, steelmaking and electrofuels.

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