Ceres Power (LON:CWR) Shares Up 12.4% – Should You Buy?

Shares of Ceres Power Holdings plc (LON:CWR) shot up 12.4% on Thursday . The stock traded as high as GBX 404.80 and last traded at GBX 404.80. 2,101,013 shares changed hands during trading, a decline of 78% from the average session volume of 9,342,151 shares. The stock had previously closed at GBX 360.

Wall Street Analysts Forecast Growth

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

Ceres Power Price Performance

The company has a debt-to-equity ratio of 2.24, a current ratio of 3.27 and a quick ratio of 12.18. The company has a 50 day moving average price of GBX 421.35 and a 200 day moving average price of GBX 464.93. The firm has a market cap of £865.49 million, a PE ratio of -16.51 and a beta of 3.00.

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.