Ceres Power (LON:CWR) Trading Up 15.5% – Here’s What Happened

Ceres Power Holdings plc (LON:CWR) shares shot up 15.5% during trading on Tuesday . The stock traded as high as GBX 418.80 and last traded at GBX 408.96. 6,016,905 shares changed hands during trading, an increase of 195% from the average session volume of 2,038,685 shares. The stock had previously closed at GBX 354.09.

Analyst Upgrades and Downgrades

Separately, Jefferies Financial Group restated a “buy” rating and set a GBX 460 target price on shares of Ceres Power in a research note on Friday, November 7th. Two investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of GBX 400.

Ceres Power Stock Up 3.7%

The stock has a market cap of £775.30 million, a PE ratio of -21.85 and a beta of 1.60. The business has a 50 day moving average of GBX 209.48 and a 200-day moving average of GBX 132.70. The company has a current ratio of 6.48, a quick ratio of 12.18 and a debt-to-equity ratio of 1.54.

Ceres Power (LON:CWR) last posted 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%. Equities research analysts predict that Ceres Power Holdings plc will post -12.4426979 EPS 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.