Ceres Power (LON:CWR) Hits New 1-Year High - Here's Why

Key Points

• 52-week high: Ceres Power shares hit a new one-year high, trading as high as GBX 447.60 and last at GBX 443 with about 2.69 million shares changing hands.
• Analyst sentiment is bullish — Jefferies raised its target to GBX 480 and Berenberg has a GBX 530 target, leaving a consensus Buy rating and an average price target of GBX 505.
• Despite strong market interest, the company shows weak near-term profitability (quarterly EPS of -GBX 24.52, negative net margin and ROE) but operates an asset-light licensing model with major partners in fuel cells and green hydrogen, supporting its growth thesis.

Ceres Power Holdings plc (LON:CWR - Get Free Report) shares hit 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 traded. The stock had previously closed at GBX 432.80.

Analysts Set New Price Targets

CWR has been the topic of several recent analyst reports. Jefferies Financial Group lifted their target price on shares of Ceres Power from GBX 460 to GBX 480 and gave the stock a "buy" rating in a report on Thursday, April 16th. Berenberg Bank reiterated a "buy" rating and issued a GBX 530 target price 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 MarketBeat, Ceres Power has a consensus rating of "Buy" and an average price target of GBX 505.

Ceres Power Stock Performance

The firm's fifty day moving average price is GBX 323.51 and its 200-day moving average price is GBX 299.55. The company has a current ratio of 3.27, a quick ratio of 12.18 and a debt-to-equity ratio of 2.24. The company has a market cap of £862.61 million, a P/E ratio of -18.06 and a beta of 2.90.

Ceres Power (LON:CWR - Get Free Report) last posted 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, research analysts forecast that Ceres Power Holdings plc will post -12.4426979 EPS for the current fiscal year.

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.

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