Ceres Power (LON:CWR) Trading 11.8% Higher – Time to Buy?

Ceres Power Holdings plc (LON:CWR) traded up 11.8% on Thursday . The stock traded as high as GBX 669 and last traded at GBX 666. 6,189,451 shares changed hands during mid-day trading, a decline of 17% from the average session volume of 7,432,738 shares. The stock had previously closed at GBX 595.50.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Jefferies Financial Group lifted their target price on Ceres Power from GBX 480 to GBX 920 and gave the company a “buy” rating in a research report on Thursday, May 7th. Berenberg Bank reaffirmed a “buy” rating and issued a GBX 530 target price on shares of Ceres Power in a research report on Thursday, March 26th. Two equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of GBX 725.

Ceres Power Stock Performance

The company has a market capitalization of £1.51 billion, a price-to-earnings ratio of -31.63 and a beta of 3.22. The company has a debt-to-equity ratio of 2.24, a quick ratio of 12.18 and a current ratio of 3.27. The firm has a 50-day simple moving average of GBX 469.43 and a two-hundred day simple moving average of GBX 360.11.

Ceres Power (LON:CWR) last released its earnings results on Thursday, March 26th. The company reported GBX (24.52) earnings per share for the quarter. Ceres Power had a negative net margin of 145.65% and a negative return on equity of 39.26%. On average, sell-side analysts anticipate that Ceres Power Holdings plc will post -12.4426979 EPS for the current fiscal year.

Insider Activity at Ceres Power

In other news, insider Philip Caldwell sold 456,940 shares of the business’s stock in a transaction dated Thursday, April 30th. The stock was sold at an average price of GBX 622, for a total transaction of £2,842,166.80. Corporate insiders own 8.03% of the company’s stock.

Ceres Power Company Profile

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.