Ceres Power (LON:CWR) Trading 13.2% Higher – Here’s What Happened

Ceres Power Holdings plc (LON:CWR) shares shot up 13.2% on Thursday . The stock traded as high as GBX 347.20 and last traded at GBX 347.20. Approximately 141,774,719 shares traded hands during trading, an increase of 1,175% from the average session volume of 11,120,246 shares. The stock had previously closed at GBX 306.60.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on CWR. Berenberg Bank upped their price objective on Ceres Power from GBX 530 to GBX 980 and gave the company a “buy” rating in a research report on Friday, May 29th. Jefferies Financial Group reissued a “buy” rating and issued a GBX 920 target price on shares of Ceres Power in a report on Wednesday, June 10th. Two analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of GBX 950.

Ceres Power Stock Down 0.1%

The company’s 50 day simple moving average is GBX 544.85 and its 200-day simple moving average is GBX 446.42. The company has a current ratio of 3.27, a quick ratio of 12.18 and a debt-to-equity ratio of 2.24. The firm has a market cap of £741.88 million, a P/E ratio of -14.15 and a beta of 3.24.

About Ceres Power

Ceres is a leading developer of clean energy technology: fuel cells for power generation and electrolysers for green hydrogen. Its asset-light, licensing model has seen it establish partnerships with some of the world’s largest companies, such as Doosan, Delta, Denso, Shell, Weichai and Thermax. Ceres’ solid oxide technology supports greater electrification of our energy systems, including AI data centres, commercial and industrial applications, and produces green hydrogen at high efficiencies as a route to decarbonise emissions-intensive industries such as ammonia, steelmaking and electrofuels.