Ceres Power (LON:CWR) Reaches New 52-Week High – Time to Buy?

Ceres Power Holdings plc (LON:CWR)’s stock price hit a new 52-week high on Tuesday . The company traded as high as GBX 832.50 and last traded at GBX 811.73, with a volume of 15210261 shares traded. The stock had previously closed at GBX 775.47.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on CWR shares. Berenberg Bank reaffirmed a “buy” rating and set a GBX 530 target price on shares of Ceres Power in a research report on Thursday, March 26th. Jefferies Financial Group upped their target price on Ceres Power from GBX 480 to GBX 920 and gave the stock a “buy” rating in a research report on Thursday, May 7th. Two equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of GBX 725.

Ceres Power Price Performance

The company has a market capitalization of £1.60 billion, a price-to-earnings ratio of -33.45 and a beta of 3.22. The business has a 50-day moving average price of GBX 478.22 and a two-hundred day moving average price of GBX 363.80. 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 (LON:CWR) last released 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%. As a group, research analysts anticipate that Ceres Power Holdings plc will post -12.4426979 EPS for the current year.

Insider Buying and Selling

In related news, insider Philip Caldwell sold 456,940 shares of the stock in a transaction on Thursday, April 30th. The stock was sold at an average price of GBX 622, for a total value of £2,842,166.80. Insiders own 8.03% of the company’s stock.

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.