Ceres Power (LON:CWR) Reaches New 1-Year High – Here’s Why

Ceres Power Holdings plc (LON:CWR)’s share price reached a new 52-week high during trading on Tuesday . The company traded as high as GBX 559 and last traded at GBX 514, with a volume of 3827982 shares traded. The stock had previously closed at GBX 497.56.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on CWR shares. Berenberg Bank restated a “buy” rating and set a GBX 530 price objective on shares of Ceres Power in a report on Thursday, March 26th. Jefferies Financial Group boosted their price objective on Ceres Power from GBX 460 to GBX 480 and gave the stock a “buy” rating in a report on Thursday, April 16th. Two equities research analysts have rated the stock with a Buy rating, According to MarketBeat, the company has a consensus rating of “Buy” and an average target price of GBX 505.

Ceres Power Trading Up 4.3%

The company has a market cap of £1.26 billion, a P/E ratio of -26.43 and a beta of 2.90. The business has a fifty day moving average price of GBX 349.16 and a 200-day moving average price of GBX 311.84. The company has a quick ratio of 12.18, a current ratio of 3.27 and a debt-to-equity ratio of 2.24.

Ceres Power (LON:CWR) last issued its quarterly earnings data on Thursday, March 26th. The company reported GBX (24.52) earnings per share (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, analysts forecast that Ceres Power Holdings plc will post -12.4426979 earnings per share for the current 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.