Ceres Power (LON:CWR) Trading Up 13.2% – Here’s What Happened

Ceres Power Holdings plc (LON:CWR)’s share price traded up 13.2% on Thursday . The company traded as high as GBX 347.20 and last traded at GBX 347.20. 141,774,719 shares were traded during mid-day trading, an increase of 1,175% from the average session volume of 11,120,246 shares. The stock had previously closed at GBX 306.60.

Analyst Upgrades and Downgrades

Several research firms have issued reports on CWR. Jefferies Financial Group reaffirmed a “buy” rating and set a GBX 920 price objective on shares of Ceres Power in a report on Wednesday, June 10th. Berenberg Bank upped their price target on Ceres Power from GBX 530 to GBX 980 and gave the company a “buy” rating in a research note on Friday, May 29th. Two analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of GBX 950.

Ceres Power Price Performance

The firm has a market capitalization of £742.31 million, a price-to-earnings ratio of -14.16 and a beta of 3.24. 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’s fifty day moving average is GBX 559.84 and its two-hundred day moving average is GBX 446.44.

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.