Ceres Power (LON:CWR) Trading Up 11.8% – Should You Buy?

Ceres Power Holdings plc (LON:CWR)’s share price shot up 11.8% on Thursday . The stock traded as high as GBX 669 and last traded at GBX 666. 6,189,451 shares traded hands during trading, a decline of 17% from the average session volume of 7,432,738 shares. The stock had previously closed at GBX 595.50.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on CWR shares. Jefferies Financial Group boosted their price target on Ceres Power from GBX 480 to GBX 920 and gave the stock a “buy” rating in a report on Thursday, May 7th. Berenberg Bank reissued a “buy” rating and issued a GBX 530 target price on shares of Ceres Power in a research note on Thursday, March 26th. Two equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of GBX 725.

Ceres Power Stock Performance

The stock has a market cap of £1.30 billion, a price-to-earnings ratio of -27.26 and a beta of 3.22. The company has a debt-to-equity ratio of 2.24, a current ratio of 3.27 and a quick ratio of 12.18. The stock’s 50-day moving average is GBX 453.57 and its 200-day moving average is GBX 354.42.

Ceres Power (LON:CWR) last issued its quarterly earnings results on Thursday, March 26th. The company reported GBX (24.52) earnings per share for the quarter. Ceres Power had a negative net margin of 145.65% and a negative return on equity of 39.26%. Analysts anticipate that Ceres Power Holdings plc will post -12.4426979 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Philip Caldwell sold 456,940 shares of the company’s stock in a transaction on Thursday, April 30th. The stock was sold at an average price of GBX 622, for a total value of £2,842,166.80. Insiders own 8.03% of the company’s stock.

Ceres Power Company Profile

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.