Ceres Power (LON:CWR) Stock Price Up 18.9% – Still a Buy?

Ceres Power Holdings plc (LON:CWR)’s stock price shot up 18.9% during mid-day trading on Wednesday . The company traded as high as GBX 390.25 and last traded at GBX 371.80. 10,463,385 shares traded hands during mid-day trading, an increase of 429% from the average session volume of 1,977,287 shares. The stock had previously closed at GBX 312.80.

Analysts Set New Price Targets

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

Ceres Power Price Performance

The company’s fifty day moving average is GBX 192.08 and its 200 day moving average is GBX 125.13. 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 stock has a market cap of £688.41 million, a PE ratio of -19.40 and a beta of 1.60.

Ceres Power (LON:CWR) last released its quarterly earnings data on Friday, September 26th. The company reported GBX (10.14) earnings per share (EPS) for the quarter. Ceres Power had a negative return on equity of 22.96% and a negative net margin of 101.69%. As a group, sell-side analysts anticipate 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.