Ceres Power (LON:CWR) Shares Up 13.2% – Still a Buy?

Ceres Power Holdings plc (LON:CWR) shares rose 13.2% during trading on Wednesday . The stock traded as high as GBX 569 and last traded at GBX 563.51. Approximately 14,199,468 shares were traded during trading, an increase of 72% from the average daily volume of 8,275,733 shares. The stock had previously closed at GBX 498.

Wall Street Analyst Weigh In

CWR has been the subject of several analyst reports. Jefferies Financial Group upped their price target on Ceres Power from GBX 460 to GBX 480 and gave the stock a “buy” rating in a research note on Thursday, April 16th. Berenberg Bank restated a “buy” rating and issued a GBX 530 target price on shares of Ceres Power in a research note on Thursday, March 26th. Two equities research analysts have rated the stock with a Buy rating, According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of GBX 505.

Ceres Power Price Performance

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 company has a 50-day simple moving average of GBX 355.70 and a 200-day simple moving average of GBX 313.99. The company has a market cap of £1.22 billion, a price-to-earnings ratio of -25.51 and a beta of 2.90.

Ceres Power (LON:CWR) last released its earnings results 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%. As a group, research analysts predict that Ceres Power Holdings plc will post -12.4426979 earnings per share for the current year.

About Ceres Power

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.