Ceres Power (LON:CWR) Trading Up 15.5% – Here’s What Happened

Shares of Ceres Power Holdings plc (LON:CWR) shot up 15.5% during mid-day trading on Monday . The company traded as high as GBX 418.80 and last traded at GBX 408.96. 6,016,905 shares traded hands 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.

Analysts Set New Price Targets

Separately, Jefferies Financial Group restated a “buy” rating and issued a GBX 460 target price 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, the company has an average rating of “Buy” and a consensus price target of GBX 400.

Ceres Power Stock Up 15.5%

The company has a debt-to-equity ratio of 1.54, a current ratio of 6.48 and a quick ratio of 12.18. The stock has a market capitalization of £795.08 million, a P/E ratio of -22.41 and a beta of 1.60. The stock’s fifty day moving average is GBX 192.08 and its two-hundred day moving average is GBX 126.11.

Ceres Power (LON:CWR) last announced its quarterly earnings data on Friday, September 26th. The company reported GBX (10.14) EPS 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, research analysts predict that Ceres Power Holdings plc will post -12.4426979 earnings per share for the current fiscal year.

Ceres Power Company Profile

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.