Ceres Power (LON:CWR) Trading 13.1% Higher – Here’s What Happened

Ceres Power Holdings plc (LON:CWR) was up 13.1% during mid-day trading on Monday . The company traded as high as GBX 401.20 and last traded at GBX 400.54. 4,262,667 shares were traded during trading, an increase of 110% from the average session volume of 2,030,639 shares. The stock had previously closed at GBX 354.09.

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 research note on Friday, November 7th. Two investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Ceres Power currently has a consensus rating of “Buy” and an average price target of GBX 400.

Ceres Power Trading Down 2.8%

The stock has a market capitalization of £747.34 million, a P/E ratio of -21.06 and a beta of 1.60. The stock’s fifty day moving average price is GBX 203.88 and its two-hundred day moving average price is GBX 130.93. 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 issued its earnings results 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%. Equities research analysts forecast that Ceres Power Holdings plc will post -12.4426979 EPS 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.