Jefferies Financial Group Forecasts Strong Price Appreciation for Ceres Power (LON:CWR) Stock

Ceres Power (LON:CWR) had its price target upped by Jefferies Financial Group from GBX 480 to GBX 920 in a research note issued on Thursday,Digital Look reports. The brokerage presently has a “buy” rating on the stock. Jefferies Financial Group’s target price suggests a potential upside of 22.83% from the stock’s current price.

Separately, Berenberg Bank reiterated a “buy” rating and set a GBX 530 price target on shares of Ceres Power in a report on Thursday, March 26th. Two research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of GBX 725.

Ceres Power Price Performance

Ceres Power stock traded up GBX 24.01 during midday trading on Thursday, reaching GBX 749.01. The company’s stock had a trading volume of 6,572,921 shares, compared to its average volume of 7,979,923. Ceres Power has a 52 week low of GBX 60.45 and a 52 week high of GBX 768.09. 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 business has a 50-day moving average price of GBX 373.34 and a 200-day moving average price of GBX 322.21. The stock has a market cap of £1.46 billion, a PE ratio of -30.55 and a beta of 2.90.

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

Insiders Place Their Bets

In related news, insider Philip Caldwell sold 456,940 shares of the business’s stock in a transaction on Thursday, April 30th. The shares were sold at an average price of GBX 622, for a total value of £2,842,166.80. 8.03% of the stock is owned by corporate insiders.

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.