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

Shares of Ceres Power Holdings plc (LON:CWR) rose 15.5% during mid-day 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 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 reissued a “buy” rating and set a GBX 460 target price on shares of Ceres Power in a research note on Friday. Two investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of GBX 400.

Ceres Power Stock Performance

The company has a current ratio of 6.48, a quick ratio of 12.18 and a debt-to-equity ratio of 1.54. The stock’s fifty day simple moving average is GBX 198.05 and its 200 day simple moving average is GBX 128.57. The company has a market cap of £795.08 million, a price-to-earnings ratio of -22.41 and a beta of 1.60.

Ceres Power (LON:CWR) last issued its 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, analysts anticipate that Ceres Power Holdings plc will post -12.4426979 earnings per share for the current 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.