Ceres Power (LON:CWR) Trading Up 11.8% – What’s Next?

Shares of Ceres Power Holdings plc (LON:CWR – Get Free Report) rose 11.8% during mid-day trading on Wednesday . The stock traded as high as GBX 489.66 and last traded at GBX 485. 164,501,875 shares changed hands during mid-day trading, an increase of 1,427% from the average daily volume of 10,772,590 shares. The stock had previously closed at GBX 434.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Jefferies Financial Group reaffirmed a “buy” rating and set a GBX 920 price objective on shares of Ceres Power in a research report on Wednesday, June 10th. Berenberg Bank boosted their target price on Ceres Power from GBX 530 to GBX 980 and gave the company a “buy” rating in a report on Friday, May 29th. Two investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Ceres Power has a consensus rating of “Buy” and a consensus price target of GBX 950.

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Ceres Power Price Performance

The company has a market cap of £1.04 billion, a price-to-earnings ratio of -19.78 and a beta of 3.00. The company’s 50 day moving average price is GBX 488.66 and its 200 day moving average price is GBX 452.81. The company has a current ratio of 3.27, a quick ratio of 12.18 and a debt-to-equity ratio of 2.24.

Ceres Power Company Profile

(Get Free Report)

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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