Ceres Power (LON:CWR) Stock Price Up 22.2% – Here’s Why

by · The Cerbat Gem

Ceres Power Holdings plc (LON:CWR – Get Free Report)’s stock price rose 22.2% during mid-day trading on Wednesday . The company traded as high as GBX 390.25 and last traded at GBX 382.20. Approximately 23,171,760 shares traded hands during mid-day trading, an increase of 1,038% from the average daily volume of 2,036,396 shares. The stock had previously closed at GBX 312.80.

Wall Street Analyst Weigh In

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

Check Out Our Latest Report on Ceres Power

Ceres Power Stock Performance

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

Ceres Power (LON:CWR – Get Free Report) last posted 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%. Analysts expect that Ceres Power Holdings plc will post -12.4426979 earnings per share for the current fiscal year.

Ceres Power Company Profile

(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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