Ceres Power (LON:CWR) Trading Up 19.3% – Here’s Why

by · The Cerbat Gem

Ceres Power Holdings plc (LON:CWR – Get Free Report)’s share price was up 19.3% during mid-day trading on Wednesday . The company traded as high as GBX 390.25 and last traded at GBX 373.18. Approximately 23,708,926 shares traded hands during trading, an increase of 1,063% from the average daily volume of 2,038,894 shares. The stock had previously closed at GBX 312.80.

Analyst Upgrades and Downgrades

Separately, Jefferies Financial Group reissued a “buy” rating and issued a GBX 460 price target on shares of Ceres Power in a research report on Friday. Two analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of GBX 400.

View Our Latest Stock Report on CWR

Ceres Power Trading Down 6.1%

The company has a debt-to-equity ratio of 1.54, a quick ratio of 12.18 and a current ratio of 6.48. The company’s 50-day moving average price is GBX 187.36 and its 200-day moving average price is GBX 123.07. The firm has a market capitalization of £688.41 million, a PE ratio of -19.40 and a beta of 1.60.

Ceres Power (LON:CWR – Get Free Report) last posted its quarterly earnings results on Friday, September 26th. The company reported GBX (10.14) earnings per share for the quarter. Ceres Power had a negative net margin of 101.69% and a negative return on equity of 22.96%. On average, sell-side analysts expect that Ceres Power Holdings plc will post -12.4426979 earnings per share for the current year.

About Ceres Power

(Get Free Report)

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.

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