Ceres Power (LON:CWR) Trading Up 13.2% – Here’s What Happened

Ceres Power Holdings plc (LON:CWR)’s stock price rose 13.2% on Thursday . The company traded as high as GBX 347.20 and last traded at GBX 347.20. Approximately 141,774,719 shares traded hands during mid-day trading, an increase of 1,175% from the average daily volume of 11,120,246 shares. The stock had previously closed at GBX 306.60.

Analyst Upgrades and Downgrades

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

Ceres Power Trading Up 13.2%

The firm has a market capitalization of £742.31 million, a price-to-earnings ratio of -14.16 and a beta of 3.24. The business’s fifty day moving average is GBX 559.84 and its 200 day moving average is GBX 446.44. 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 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.