Ceres Power (LON:CWR) Shares Up 14.4% – Here’s Why

Ceres Power Holdings plc (LON:CWR)’s share price was up 14.4% on Monday . The company traded as high as GBX 410 and last traded at GBX 405.07. Approximately 5,365,212 shares traded hands during trading, an increase of 164% from the average daily volume of 2,035,696 shares. The stock had previously closed at GBX 354.09.

Wall Street Analysts Forecast Growth

Separately, Jefferies Financial Group reiterated a “buy” rating and issued a GBX 460 price objective on shares of Ceres Power in a research note on Friday, November 7th. Two research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Ceres Power has a consensus rating of “Buy” and an average target price of GBX 400.

Ceres Power Stock Down 2.8%

The firm has a 50 day moving average of GBX 203.88 and a 200-day moving average of GBX 130.93. The company has a debt-to-equity ratio of 1.54, a current ratio of 6.48 and a quick ratio of 12.18. The stock has a market capitalization of £747.34 million, a P/E ratio of -21.06 and a beta of 1.60.

Ceres Power (LON:CWR) last announced 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 return on equity of 22.96% and a negative net margin of 101.69%. On average, equities research analysts expect 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.