Ceres Power (LON:CWR) Stock Price Up 18.9% – Here’s Why

Shares of Ceres Power Holdings plc (LON:CWR) rose 18.9% on Thursday . The company traded as high as GBX 390.25 and last traded at GBX 371.80. Approximately 11,141,039 shares changed hands during trading, an increase of 463% from the average daily volume of 1,980,439 shares. The stock had previously closed at GBX 312.80.

Analyst Upgrades and Downgrades

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

Ceres Power Price Performance

The business has a 50 day simple moving average of GBX 192.08 and a two-hundred day simple moving average of GBX 125.13. The firm has a market capitalization of £688.41 million, a P/E ratio of -19.40 and a beta of 1.60. The company has a debt-to-equity ratio of 1.54, a quick ratio of 12.18 and a current ratio of 6.48.

Ceres Power (LON:CWR) last issued its quarterly earnings data 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 expect that Ceres Power Holdings plc will post -12.4426979 EPS for the current fiscal 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.