Ceres Power (LON:CWR) Trading Up 13.2% - What's Next?

Key Points

• Shares jumped 13.2% intraday to GBX 563.51 on Wednesday with volume up about 72% (~14.2M shares), after a prior close of GBX 498.
• Analysts are broadly bullish with an average "Buy" rating and a mean target of GBX 505, while Jefferies raised its target to GBX 480 and Berenberg sits at GBX 530.
• Ceres is an asset-light developer of fuel cells and electrolysers with major industrial partners (Shell, Doosan, Denso, etc.), but it currently shows negative EPS and margins despite a market cap of about £1.15 billion.

Ceres Power Holdings plc (LON:CWR - Get Free Report) shares were up 13.2% during mid-day trading on Wednesday . The company traded as high as GBX 569 and last traded at GBX 563.51. Approximately 14,199,468 shares traded hands during mid-day trading, an increase of 72% from the average daily volume of 8,275,733 shares. The stock had previously closed at GBX 498.

Analysts Set New Price Targets

A number of equities analysts have issued reports on CWR shares. Jefferies Financial Group upped their target price on Ceres Power from GBX 460 to GBX 480 and gave the stock a "buy" rating in a report on Thursday, April 16th. Berenberg Bank reaffirmed a "buy" rating and issued a GBX 530 target price on shares of Ceres Power in a report on Thursday, March 26th. Two analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company has an average rating of "Buy" and an average target price of GBX 505.

Ceres Power Trading Up 18.1%

The business has a fifty day simple moving average of GBX 342.82 and a 200-day simple moving average of GBX 309.66. The company has a debt-to-equity ratio of 2.24, a quick ratio of 12.18 and a current ratio of 3.27. The firm has a market cap of £1.15 billion, a price-to-earnings ratio of -23.98 and a beta of 2.90.

Ceres Power (LON:CWR - Get Free Report) last issued 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%. As a group, equities analysts forecast that Ceres Power Holdings plc will post -12.4426979 earnings per share for the current fiscal year.

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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