Ceres Power (LON:CWR) Stock Price Up 19.8% – Should You Buy?

Shares of Ceres Power Holdings plc (LON:CWR) rose 19.8% during mid-day trading on Wednesday . The company traded as high as GBX 390.25 and last traded at GBX 374.80. Approximately 24,298,693 shares traded hands 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.

Wall Street Analysts Forecast Growth

Separately, Jefferies Financial Group reissued 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, the company has an average rating of “Buy” and an average price target of GBX 400.

Ceres Power Stock Performance

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 firm has a 50-day moving average of GBX 192.08 and a 200 day moving average of GBX 125.13. The stock has a market capitalization of £688.41 million, a P/E ratio of -19.40 and a beta of 1.60.

Ceres Power (LON:CWR) last announced 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 net margin of 101.69% and a negative return on equity of 22.96%. Research analysts anticipate 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.