Ceres Power (LON:CWR) Shares Up 19.8% – Here’s What Happened

Shares of Ceres Power Holdings plc (LON:CWR) rose 19.8% on Wednesday . The company traded as high as GBX 390.25 and last traded at GBX 374.80. Approximately 24,298,693 shares were traded during trading, an increase of 1,090% from the average daily volume of 2,041,637 shares. The stock had previously closed at GBX 312.80.

Analyst Ratings Changes

Separately, Jefferies Financial Group reiterated a “buy” rating and issued a GBX 460 price target on shares of Ceres Power in a report on Friday. Two equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of GBX 400.

Ceres Power Stock Down 6.1%

The stock has a market cap of £688.41 million, a price-to-earnings ratio of -19.40 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 moving average is GBX 192.08 and its two-hundred day moving average is GBX 125.13.

Ceres Power (LON:CWR) last released its quarterly earnings results on Friday, September 26th. The company reported GBX (10.14) earnings per share (EPS) for the quarter. Ceres Power had a negative return on equity of 22.96% and a negative net margin of 101.69%. On average, sell-side analysts predict 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.