Ceres Power (LON:CWR) Shares Up 22.2% – Time to Buy?

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

Analyst Upgrades and Downgrades

Separately, Jefferies Financial Group reissued 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, Based on data from MarketBeat, Ceres Power has an average rating of “Buy” and a consensus price target of GBX 400.

Ceres Power Price Performance

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

Ceres Power (LON:CWR) last released its quarterly earnings results 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%. Equities 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.