Ceres Power (LON:CWR) Shares Cross Above 50-Day Moving Average - Here's Why

Key Points

• Shares crossed above its 50-day moving average of GBX 309.54, trading as high as GBX 338 and last at GBX 322.40 on volume of 5,118,684 shares.
• Berenberg reiterated a Buy rating with a GBX 530 target; the consensus rating is Buy with an average price target of GBX 495.
• Despite technical and analyst optimism, Ceres remains unprofitable—reporting quarterly EPS of GBX (24.52), negative ROE and net margin—and runs an asset-light licensing model for fuel cells and green-hydrogen tech with partners like Bosch, Doosan, Delta and Weichai.

Shares of Ceres Power Holdings plc (LON:CWR - Get Free Report) crossed above its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of GBX 309.54 and traded as high as GBX 338. Ceres Power shares last traded at GBX 322.40, with a volume of 5,118,684 shares.

Wall Street Analyst Weigh In

Separately, Berenberg Bank reiterated a "buy" rating and set a GBX 530 target price on shares of Ceres Power in a research report on Thursday, March 26th. Two research analysts have rated the stock with a Buy rating, According to MarketBeat, the company presently has a consensus rating of "Buy" and an average price target of GBX 495.

Ceres Power Price Performance

The stock's 50-day moving average price is GBX 309.54 and its 200-day moving average price is GBX 284.06. The company has a market capitalization of £653.00 million, a price-to-earnings ratio of -13.67 and a beta of 1.81. The company has a quick ratio of 12.18, a current ratio of 3.27 and a debt-to-equity ratio of 2.24.

Ceres Power (LON:CWR - Get Free Report) last announced its 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%. Equities research analysts anticipate that Ceres Power Holdings plc will post -12.4426979 earnings per share for the current year.

Ceres Power Company Profile

Ceres is a leading developer of clean energy technology: electrolysis for the creation of green hydrogen and fuel cells for power generation. Its asset-light, licensing model has seen it establish partnerships with some of the world's largest companies, such as Bosch, Doosan, Delta and Weichai. Ceres' solid oxide technology supports greater electrification of our energy systems and produces green hydrogen at high-efficiencies as a route to decarbonise emissions-intensive industries such as steelmaking, ammonia and future fuels.

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