Ceres Power (LON:CWR) Shares Up 22.2% – Here’s What Happened

Ceres Power Holdings plc (LON:CWR)’s share price was up 22.2% on Wednesday . The company traded as high as GBX 390.25 and last traded at GBX 382.20. Approximately 23,171,760 shares traded hands during mid-day trading, an increase of 1,038% from the average daily volume of 2,036,396 shares. The stock had previously closed at GBX 312.80.

Analyst Ratings Changes

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

Ceres Power Trading Down 6.1%

The company has a debt-to-equity ratio of 1.54, a quick ratio of 12.18 and a current ratio of 6.48. The company has a market capitalization of £688.41 million, a price-to-earnings ratio of -19.40 and a beta of 1.60. The business’s 50-day simple moving average is GBX 187.36 and its 200-day simple moving average is GBX 123.07.

Ceres Power (LON:CWR) last issued its quarterly earnings results on Friday, September 26th. The company reported GBX (10.14) EPS for the quarter. Ceres Power had a negative return on equity of 22.96% and a negative net margin of 101.69%. On average, research analysts expect that Ceres Power Holdings plc will post -12.4426979 earnings per share for the current fiscal 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.