Ceres Power (LON:CWR) Sets New 52-Week High - Still a Buy?

Key Points

• New 52-week high: Ceres Power shares rose as high as GBX 559 (last at GBX 514) on heavy volume (~3.83M shares) while analysts maintain a consensus Buy rating with a consensus price target of GBX 505 after recent upgrades from Jefferies and Berenberg.
• Unprofitable despite momentum: The company reported quarterly EPS of -GBX 24.52, a negative ROE (-39.26%) and net margin (-145.65%), with analysts forecasting around -GBX 12.44 EPS for the fiscal year.
• Asset-light clean-energy model: Ceres develops fuel cells and electrolysers using a licensing model and partnerships with major firms (Shell, Denso, Doosan, etc.), and has a market cap of about £1.02 billion.

Ceres Power Holdings plc (LON:CWR - Get Free Report)'s stock price reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as GBX 559 and last traded at GBX 514, with a volume of 3827982 shares trading hands. The stock had previously closed at GBX 497.56.

Analyst Upgrades and Downgrades

CWR has been the subject of several research analyst reports. Jefferies Financial Group lifted their price objective on Ceres Power from GBX 460 to GBX 480 and gave the company a "buy" rating in a research note on Thursday, April 16th. Berenberg Bank reaffirmed a "buy" rating and set a GBX 530 price target on shares of Ceres Power in a research note on Thursday, March 26th. Two 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 price target of GBX 505.

Ceres Power Stock 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 simple moving average of GBX 338.83 and a 200-day simple moving average of GBX 307.55. The stock has a market cap of £1.02 billion, a P/E ratio of -21.41 and a beta of 2.90.

Ceres Power (LON:CWR - Get Free Report) last issued its quarterly earnings results 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%. On average, equities analysts expect that Ceres Power Holdings plc will post -12.4426979 earnings per share 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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