Ceres Power (LON:CWR) Stock Price Up 15.5% – Here’s Why

Ceres Power Holdings plc (LON:CWR)’s share price was up 15.5% on Monday . The stock traded as high as GBX 418.80 and last traded at GBX 408.96. Approximately 6,016,905 shares were traded during mid-day trading, an increase of 195% from the average daily volume of 2,038,685 shares. The stock had previously closed at GBX 354.09.

Wall Street Analysts Forecast Growth

Separately, Jefferies Financial Group restated a “buy” rating and set a GBX 460 price objective on shares of Ceres Power in a research report on Friday. Two analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Ceres Power presently has a consensus rating of “Buy” and a consensus target price of GBX 400.

Ceres Power Trading Up 15.5%

The company has a debt-to-equity ratio of 1.54, a current ratio of 6.48 and a quick ratio of 12.18. The business’s 50-day moving average is GBX 192.08 and its 200 day moving average is GBX 126.11. The firm has a market capitalization of £795.08 million, a P/E ratio of -22.41 and a beta of 1.60.

Ceres Power (LON:CWR) last posted its quarterly earnings data on Friday, September 26th. The company reported GBX (10.14) earnings per share (EPS) for the quarter. Ceres Power had a negative net margin of 101.69% and a negative return on equity of 22.96%. As a group, analysts anticipate that Ceres Power Holdings plc will post -12.4426979 EPS for the current fiscal year.

About Ceres Power

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.