Ceres Power (LON:CWR) Trading 15.5% Higher – What’s Next?

Ceres Power Holdings plc (LON:CWR)’s stock price traded up 15.5% 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 mid-day 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 restated a “buy” rating and set a GBX 460 price objective on shares of Ceres Power in a report on Friday. Two investment analysts have rated the stock with a Buy rating, According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of GBX 400.

Ceres Power Trading Down 3.8%

The business has a 50 day simple moving average of GBX 198.05 and a 200-day simple moving average of GBX 128.57. The stock has a market capitalization of £769.90 million, a price-to-earnings ratio of -21.70 and a beta of 1.60. The company has a debt-to-equity ratio of 1.54, a current ratio of 6.48 and a quick ratio of 12.18.

Ceres Power (LON:CWR) last released its quarterly earnings data on Friday, September 26th. The company reported GBX (10.14) earnings per share for the quarter. Ceres Power had a negative net margin of 101.69% and a negative return on equity of 22.96%. As a group, equities analysts expect 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.