Ceres Power (LON:CWR) Stock Price Up 7.9% – Here’s Why

Ceres Power Holdings plc (LON:CWR) shares rose 7.9% during mid-day trading on Thursday . The stock traded as high as GBX 340 and last traded at GBX 333.09. Approximately 1,266,821 shares changed hands during mid-day trading, a decline of 85% from the average daily volume of 8,365,575 shares. The stock had previously closed at GBX 308.80.

Analyst Upgrades and Downgrades

Separately, Berenberg Bank reiterated a “buy” rating and set a GBX 530 price objective on shares of Ceres Power in a research report on Thursday. Two equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, Ceres Power has an average rating of “Buy” and a consensus target price of GBX 495.

Ceres Power Stock Down 11.1%

The stock’s fifty day simple moving average is GBX 309.51 and its 200-day simple moving average is GBX 271.29. The stock has a market cap of £590.76 million, a P/E ratio of -16.62 and a beta of 1.81. The company has a debt-to-equity ratio of 2.24, a quick ratio of 12.18 and a current ratio of 3.27.

Ceres Power (LON:CWR) last announced its earnings results on Thursday, March 26th. The company reported GBX (24.52) 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 forecast 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.