Ceres Power (LON:CWR) Stock Price Up 11.8% – What’s Next?

Ceres Power Holdings plc (LON:CWR) shares were up 11.8% during trading on Wednesday . The company traded as high as GBX 489.66 and last traded at GBX 485. 164,501,875 shares changed hands during trading, an increase of 1,427% from the average session volume of 10,772,590 shares. The stock had previously closed at GBX 434.

Analysts Set New Price Targets

CWR has been the subject of a number of research analyst reports. Berenberg Bank upped their target price on Ceres Power from GBX 530 to GBX 980 and gave the company a “buy” rating in a research report on Friday, May 29th. Jefferies Financial Group reaffirmed a “buy” rating and set a GBX 920 price target on shares of Ceres Power in a research report on Wednesday, June 10th. Two investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of GBX 950.

Ceres Power Stock Performance

The stock has a market cap of £1.04 billion, a price-to-earnings ratio of -19.78 and a beta of 3.00. The stock’s 50 day moving average is GBX 488.66 and its two-hundred day moving average is GBX 452.81. The company has a current ratio of 3.27, a quick ratio of 12.18 and a debt-to-equity ratio of 2.24.

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.