Ceres Power (LON:CWR) Reaches New 12-Month High After Analyst Upgrade

Ceres Power Holdings plc (LON:CWR) reached a new 52-week high during mid-day trading on Thursday after Jefferies Financial Group raised their price target on the stock from GBX 460 to GBX 480. Jefferies Financial Group currently has a buy rating on the stock. Ceres Power traded as high as GBX 434.40 and last traded at GBX 425.85, with a volume of 7702896 shares trading hands. The stock had previously closed at GBX 401.60.

Separately, Berenberg Bank reissued a “buy” rating and issued a GBX 530 price target on shares of Ceres Power in a research note on Thursday, March 26th. Two investment analysts have rated the stock with a Buy rating, According to MarketBeat, Ceres Power has an average rating of “Buy” and a consensus price target of GBX 505.

Ceres Power Trading Down 5.9%

The company has a debt-to-equity ratio of 2.24, a quick ratio of 12.18 and a current ratio of 3.27. The firm has a market cap of £781.96 million, a PE ratio of -16.37 and a beta of 2.90. The stock’s 50 day simple moving average is GBX 318.62 and its 200 day simple moving average is GBX 293.99.

Ceres Power (LON:CWR) last announced its quarterly earnings data on Thursday, March 26th. The company reported GBX (24.52) earnings per share 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 forecast 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: 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.