Ceres Power (LON:CWR) Shares Up 17.3% - Here's Why

Key Points

• Shares jumped 17.3% intraday to a high of GBX 758 (last GBX 747.08) on Wednesday with 6.52M shares traded, above the prior close of GBX 637 but below the average session volume.
• Analysts hold a consensus "Buy" rating with an average price target of GBX 505, after brokers including Jefferies and Berenberg reiterated or raised ratings.
• The company still reports weak fundamentals — quarterly EPS of GBX (24.52), a negative net margin of 145.65% and an expected FY EPS of about -12.44 — while insider Philip Caldwell sold 456,940 shares for ~£2.84M (insiders own 8.03%).

Ceres Power Holdings plc (LON:CWR - Get Free Report) shares shot up 17.3% during trading on Wednesday . The stock traded as high as GBX 758 and last traded at GBX 747.08. 6,515,037 shares were traded during trading, a decline of 19% from the average session volume of 8,047,437 shares. The stock had previously closed at GBX 637.

Wall Street Analyst Weigh In

Several brokerages recently commented on CWR. Berenberg Bank restated a "buy" rating and set a GBX 530 target price on shares of Ceres Power in a report on Thursday, March 26th. Jefferies Financial Group upped their price target on shares of Ceres Power from GBX 460 to GBX 480 and gave the stock a "buy" rating in a research report on Thursday, April 16th. Two equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average price target of GBX 505.

Ceres Power Trading Down 3.7%

The stock has a market cap of £1.40 billion, a price-to-earnings ratio of -29.27 and a beta of 2.90. The company has a quick ratio of 12.18, a current ratio of 3.27 and a debt-to-equity ratio of 2.24. The business's 50 day simple moving average is GBX 364.68 and its 200 day simple moving average is GBX 318.88.

Ceres Power (LON:CWR - Get Free Report) last announced its quarterly 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%. On average, research analysts expect that Ceres Power Holdings plc will post -12.4426979 EPS for the current fiscal year.

Insider Buying and Selling

In other Ceres Power news, insider Philip Caldwell sold 456,940 shares of the stock in a transaction on Thursday, April 30th. The shares were sold at an average price of GBX 622, for a total value of £2,842,166.80. 8.03% of the stock is currently owned by corporate insiders.

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.

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