Ceres Power (LON:CWR) Reaches New 1-Year High – Here’s What Happened

Ceres Power Holdings plc (LON:CWR) shares reached a new 52-week high during trading on Wednesday . The stock traded as high as GBX 447.60 and last traded at GBX 443, with a volume of 2687514 shares trading hands. The stock had previously closed at GBX 432.80.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on CWR. Jefferies Financial Group lifted their price objective on Ceres Power from GBX 460 to GBX 480 and gave the stock a “buy” rating in a report on Thursday, April 16th. Berenberg Bank reaffirmed a “buy” rating and set a GBX 530 price objective on shares of Ceres Power in a report on Thursday, March 26th. Two equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, Ceres Power currently has a consensus rating of “Buy” and a consensus target price of GBX 505.

Ceres Power Stock Performance

The firm has a fifty day moving average of GBX 330.88 and a 200-day moving average of GBX 301.97. The stock has a market capitalization of £956.90 million, a price-to-earnings ratio of -20.03 and a beta of 2.90. The company has a quick ratio of 12.18, a current ratio of 3.27 and a debt-to-equity ratio of 2.24.

Ceres Power (LON:CWR) last issued its quarterly earnings data on Thursday, March 26th. The company reported GBX (24.52) earnings per share (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, sell-side analysts anticipate that Ceres Power Holdings plc will post -12.4426979 EPS for the current year.

Ceres Power Company Profile

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.