Ceres Power (LON:CWR) Trading Up 14.4% – Here’s Why

Ceres Power Holdings plc (LON:CWR)’s share price rose 14.4% during mid-day trading on Monday . The stock traded as high as GBX 405.60 and last traded at GBX 404.97. Approximately 5,124,659 shares were traded during trading, an increase of 152% from the average daily volume of 2,034,593 shares. The stock had previously closed at GBX 354.09.

Wall Street Analysts Forecast Growth

Separately, Jefferies Financial Group restated a “buy” rating and issued a GBX 460 price objective 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 has an average rating of “Buy” and a consensus price target of GBX 400.

Ceres Power Stock Down 2.8%

The company has a market capitalization of £747.34 million, a price-to-earnings ratio of -21.06 and a beta of 1.60. The company has a current ratio of 6.48, a quick ratio of 12.18 and a debt-to-equity ratio of 1.54. The firm’s 50 day simple moving average is GBX 203.88 and its 200-day simple moving average is GBX 130.93.

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