Ceres Power (LON:CWR) Shares Up 12.4% – Still a Buy?

Ceres Power Holdings plc (LON:CWR) shares traded up 12.4% during trading on Thursday . The stock traded as high as GBX 404.80 and last traded at GBX 404.80. Approximately 2,101,013 shares traded hands during mid-day trading, a decline of 78% from the average daily volume of 9,342,151 shares. The stock had previously closed at GBX 360.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. Jefferies Financial Group restated a “buy” rating and set a GBX 920 price objective on shares of Ceres Power in a research report on Wednesday, June 10th. Berenberg Bank increased their price target on Ceres Power from GBX 530 to GBX 980 and gave the company a “buy” rating in a report on Friday, May 29th. Two analysts have rated the stock with a Buy rating, According to data from MarketBeat, Ceres Power has a consensus rating of “Buy” and a consensus target price of GBX 950.

Ceres Power Stock Down 1.5%

The firm has a market cap of £852.62 million, a PE ratio of -16.26 and a beta of 3.00. The company has a 50-day simple moving average of GBX 418.22 and a 200-day simple moving average of GBX 465.21. The company has a debt-to-equity ratio of 2.24, a current ratio of 3.27 and a quick ratio of 12.18.

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.