Ceres Power (LON:CWR) Trading 15.5% Higher – Here’s What Happened

Ceres Power Holdings plc (LON:CWR)’s share price was up 15.5% on Monday . The company 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 Analysts Forecast Growth

Separately, Jefferies Financial Group reissued a “buy” rating and issued a GBX 460 price objective on shares of Ceres Power in a report on Friday. Two analysts have rated the stock with a Buy rating, According to MarketBeat, the company has a consensus rating of “Buy” and an average price target of GBX 400.

Ceres Power Stock Performance

The company has a 50 day moving average price of GBX 192.08 and a 200-day moving average price of GBX 126.11. 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 P/E ratio of -22.41 and a beta of 1.60.

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