Ceres Power (LON:CWR) Stock Price Up 12.4% – Here’s Why

Ceres Power Holdings plc (LON:CWR)’s share price traded up 12.4% during mid-day trading on Thursday . The company traded as high as GBX 404.80 and last traded at GBX 404.80. 2,101,013 shares were traded during trading, a decline of 78% from the average daily volume of 9,342,151 shares. The stock had previously closed at GBX 360.

Analyst Upgrades and Downgrades

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

Ceres Power Stock Up 12.4%

The firm has a 50 day moving average of GBX 421.35 and a two-hundred day moving average of GBX 464.93. The stock has a market capitalization of £865.49 million, a PE ratio of -16.51 and a beta of 3.00. The company has a current ratio of 3.27, a quick ratio of 12.18 and a debt-to-equity ratio of 2.24.

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.