Ceres Power (LON:CWR) Shares Up 17.3% – Here’s Why

Ceres Power Holdings plc (LON:CWR)’s stock price was up 17.3% on Wednesday . The stock traded as high as GBX 758 and last traded at GBX 747.08. Approximately 6,515,037 shares were traded during trading, a decline of 19% from the average daily volume of 8,047,437 shares. The stock had previously closed at GBX 637.

Analyst Ratings Changes

Several research analysts recently weighed in on CWR shares. Berenberg Bank reissued a “buy” rating and set a GBX 530 price objective on shares of Ceres Power in a research note on Thursday, March 26th. Jefferies Financial Group increased their price target on shares of Ceres Power from GBX 480 to GBX 920 and gave the company a “buy” rating in a research note on Thursday. Two research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of GBX 725.

Ceres Power Stock Performance

The stock has a market cap of £1.41 billion, a price-to-earnings ratio of -29.52 and a beta of 2.90. The company has a current ratio of 3.27, a quick ratio of 12.18 and a debt-to-equity ratio of 2.24. The stock’s 50-day simple moving average is GBX 382.44 and its 200-day simple moving average is GBX 325.89.

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

Insider Buying and Selling

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

About Ceres Power

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.