Ceres Power (LON:CWR) Trading Up 22.2% – Should You Buy?

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

Analyst Ratings Changes

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

Ceres Power Trading Down 6.1%

The firm has a market capitalization of £688.41 million, a PE 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. The company has a fifty day moving average of GBX 187.36 and a 200-day moving average of GBX 123.07.

Ceres Power (LON:CWR) last issued 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%. On average, sell-side analysts anticipate that Ceres Power Holdings plc will post -12.4426979 earnings per share for the current fiscal 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.