Ceres Power (LON:CWR) Shares Up 19.3% – Still a Buy?

Ceres Power Holdings plc (LON:CWR)’s stock price was up 19.3% during trading on Wednesday . The company traded as high as GBX 390.25 and last traded at GBX 373.18. Approximately 23,708,926 shares were traded during mid-day trading, an increase of 1,063% from the average daily volume of 2,038,894 shares. The stock had previously closed at GBX 312.80.

Analyst Upgrades and Downgrades

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

Ceres Power Stock Down 6.1%

The stock has a market cap of £688.41 million, a PE ratio of -19.40 and a beta of 1.60. The business has a 50 day moving average of GBX 187.36 and a 200-day moving average of GBX 123.07. The company has a current ratio of 6.48, a quick ratio of 12.18 and a debt-to-equity ratio of 1.54.

Ceres Power (LON:CWR) last posted its quarterly earnings data 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 research analysts predict that Ceres Power Holdings plc will post -12.4426979 EPS 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.