Ceres Power (LON:CWR) Stock Price Up 15.5% – What’s Next?

Ceres Power Holdings plc (LON:CWR)’s share price was up 15.5% during trading on Monday . The stock traded as high as GBX 418.80 and last traded at GBX 408.96. Approximately 6,016,905 shares changed hands during 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 Analyst Weigh In

Separately, Jefferies Financial Group reiterated a “buy” rating and set a GBX 460 target price 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 company presently has a consensus rating of “Buy” and an average price target of GBX 400.

Ceres Power Price Performance

The firm has a 50 day simple moving average of GBX 198.05 and a 200-day simple moving average of GBX 128.57. The company has a quick ratio of 12.18, a current ratio of 6.48 and a debt-to-equity ratio of 1.54. The company has a market cap of £795.08 million, a PE ratio of -22.41 and a beta of 1.60.

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%. As a group, research analysts predict that Ceres Power Holdings plc will post -12.4426979 earnings per share 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.