Ceres Power (LON:CWR) Shares Up 12.6% – Here’s Why

Ceres Power Holdings plc (LON:CWR)’s share price rose 12.6% during trading on Tuesday . The company traded as high as GBX 400 and last traded at GBX 395.40. 1,916,478 shares were traded during mid-day trading, a decline of 82% from the average daily volume of 10,556,764 shares. The stock had previously closed at GBX 351.20.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. Jefferies Financial Group reiterated a “buy” rating and issued a GBX 920 target price on shares of Ceres Power in a research report on Wednesday, June 10th. Berenberg Bank raised their price target on shares of Ceres Power from GBX 530 to GBX 980 and gave the company a “buy” rating in a research note on Friday, May 29th. Two investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of GBX 950.

Ceres Power Stock Performance

The company has a market cap of £844.67 million, a price-to-earnings ratio of -16.11 and a beta of 2.90. The stock’s fifty day simple moving average is GBX 592.88 and its 200 day simple moving average is GBX 442.20. The company has a current ratio of 3.27, a quick ratio of 12.18 and a debt-to-equity ratio of 2.24.

Insider Buying and Selling at Ceres Power

In other Ceres Power news, insider Philip Caldwell sold 456,940 shares of the business’s stock in a transaction dated Thursday, April 30th. The shares were sold at an average price of GBX 622, for a total value of £2,842,166.80. Insiders own 7.28% of the company’s stock.

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.