Ceres Power (LON:CWR) Sets New 12-Month High – Still a Buy?

Ceres Power Holdings plc (LON:CWR)’s share price reached a new 52-week high during trading on Monday . The stock traded as high as GBX 773 and last traded at GBX 762.36, with a volume of 1250952 shares changing hands. The stock had previously closed at GBX 732.56.

Analysts Set New Price Targets

CWR has been the topic of several recent analyst reports. Jefferies Financial Group increased their price objective on Ceres Power from GBX 480 to GBX 920 and gave the company a “buy” rating in a research report on Thursday, May 7th. Berenberg Bank reaffirmed a “buy” rating and set a GBX 530 price objective on shares of Ceres Power in a research report on Thursday, March 26th. Two analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of GBX 725.

Ceres Power Stock Performance

The business has a fifty day simple moving average of GBX 447.96 and a two-hundred day simple moving average of GBX 352.27. The company has a quick ratio of 12.18, a current ratio of 3.27 and a debt-to-equity ratio of 2.24. The company has a market cap of £1.24 billion, a P/E ratio of -26.00 and a beta of 3.22.

Ceres Power (LON:CWR) last posted its earnings results on Thursday, March 26th. The company reported GBX (24.52) earnings per share for the quarter. Ceres Power had a negative net margin of 145.65% and a negative return on equity of 39.26%. On average, sell-side analysts anticipate that Ceres Power Holdings plc will post -12.4426979 EPS for the current year.

Insiders Place Their Bets

In other Ceres Power news, insider Philip Caldwell sold 456,940 shares of the stock in a transaction dated Thursday, April 30th. The stock was sold at an average price of GBX 622, for a total value of £2,842,166.80. Corporate insiders own 8.03% of the company’s stock.

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.