Ceres Power (LON:CWR) Reaches New 1-Year High - Still a Buy?

Key Points

• Shares of Ceres Power hit a new 52-week high, trading as high as GBX 708.50 (last GBX 660.80) on heavy volume, giving the company a market cap of about £1.33 billion.
• Analysts maintain a consensus "Buy" rating but the consensus price target is GBX 505—below the recent share price—with recent targets of GBX 530 (Berenberg) and GBX 480 (Jefferies).
• Ceres remains unprofitable (negative EPS, net margin and ROE) despite an asset-light licensing model and major partnerships, and saw an insider sell 456,940 shares at GBX 622 while insiders still own 8.03%.

Shares of Ceres Power Holdings plc (LON:CWR - Get Free Report) reached a new 52-week high on Tuesday . The company traded as high as GBX 708.50 and last traded at GBX 660.80, with a volume of 77410477 shares trading hands. The stock had previously closed at GBX 637.

Wall Street Analyst Weigh In

Several research firms have recently commented on CWR. Berenberg Bank reissued a "buy" rating and issued a GBX 530 target price on shares of Ceres Power in a research note on Thursday, March 26th. Jefferies Financial Group lifted their target price on Ceres Power from GBX 460 to GBX 480 and gave the company a "buy" rating in a research note on Thursday, April 16th. Two equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus price target of GBX 505.

Ceres Power Price Performance

The company has a 50 day moving average price of GBX 355.70 and a 200 day moving average price of GBX 315.44. The company has a market capitalization of £1.33 billion, a price-to-earnings ratio of -27.92 and a beta of 2.90. The company has a current ratio of 3.27, a quick ratio of 12.18 and a debt-to-equity ratio of 2.24.

Ceres Power (LON:CWR - Get Free Report) last released its earnings results on Thursday, March 26th. The company reported GBX (24.52) EPS for the quarter. Ceres Power had a negative net margin of 145.65% and a negative return on equity of 39.26%. As a group, equities research analysts forecast that Ceres Power Holdings plc will post -12.4426979 earnings per share for the current year.

Insider Activity at Ceres Power

In other news, insider Philip Caldwell sold 456,940 shares of Ceres Power stock in a transaction on Thursday, April 30th. The stock was sold at an average price of GBX 622, for a total value of £2,842,166.80. Company 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.

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