Ceres Power (LON:CWR) Stock Price Passes Above 50 Day Moving Average – Here’s What Happened

Ceres Power Holdings plc (LON:CWR)’s stock price passed above its 50-day moving average during trading on Monday . The stock has a 50-day moving average of GBX 398.36 and traded as high as GBX 427.20. Ceres Power shares last traded at GBX 425.59, with a volume of 56,357,098 shares trading hands.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on CWR. Berenberg Bank reiterated a “buy” rating and set a GBX 950 price target on shares of Ceres Power in a report on Wednesday. Jefferies Financial Group reaffirmed a “buy” rating and issued a GBX 920 target price on shares of Ceres Power in a research report on Wednesday, June 10th. 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 935.

Ceres Power Price Performance

The company has a fifty day moving average of GBX 398.55 and a 200-day moving average of GBX 474.93. The company has a current ratio of 3.27, a quick ratio of 12.18 and a debt-to-equity ratio of 2.24. The stock has a market cap of £928.44 million, a PE ratio of -17.71 and a beta of 3.00.

Ceres Power (LON:CWR) last posted its quarterly earnings data on Wednesday, September 23rd. The company reported GBX (8.58) EPS for the quarter. Ceres Power had a negative net margin of 145.65% and a negative return on equity of 39.26%. Sell-side analysts expect 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: 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.