Ceres Power (LON:CWR) Shares Up 15.5% – Here’s What Happened

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

Wall Street Analysts Forecast Growth

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

Ceres Power Price Performance

The company has a market cap of £795.08 million, a P/E ratio of -22.41 and a beta of 1.60. The stock has a 50-day simple moving average of GBX 192.08 and a 200 day simple moving average of GBX 126.11. The company has a debt-to-equity ratio of 1.54, a quick ratio of 12.18 and a current ratio of 6.48.

Ceres Power (LON:CWR) last issued its earnings results on Friday, September 26th. The company reported GBX (10.14) EPS for the quarter. Ceres Power had a negative net margin of 101.69% and a negative return on equity of 22.96%. On average, equities analysts expect 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.