Ceres Power (LON:CWR) Trading Up 22.2% – Here’s Why

Shares of Ceres Power Holdings plc (LON:CWR) rose 22.2% during mid-day trading on Wednesday . The stock traded as high as GBX 390.25 and last traded at GBX 382.20. Approximately 23,171,760 shares were traded during trading, an increase of 1,038% from the average daily volume of 2,036,396 shares. The stock had previously closed at GBX 312.80.

Analyst Upgrades and Downgrades

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

Ceres Power Stock Performance

The stock’s 50 day simple moving average is GBX 187.36 and its two-hundred day simple moving average is GBX 123.07. The company 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 current ratio of 6.48 and a quick ratio of 12.18.

Ceres Power (LON:CWR) last issued its quarterly earnings results 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, research analysts expect that Ceres Power Holdings plc will post -12.4426979 earnings per share for the current 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.