Ceres Power (LON:CWR) Given New GBX 980 Price Target at Berenberg Bank

Ceres Power (LON:CWR) had its price objective upped by Berenberg Bank from GBX 530 to GBX 980 in a research report report published on Friday morning, Marketbeat Ratings reports. Berenberg Bank currently has a buy rating on the stock.

Separately, Jefferies Financial Group lifted their price target on shares of Ceres Power from GBX 480 to GBX 920 and gave the company a “buy” rating in a research report on Thursday, May 7th. Two investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Ceres Power currently has an average rating of “Buy” and a consensus price target of GBX 950.

Ceres Power Trading Up 2.4%

CWR opened at GBX 844.50 on Friday. The company has a debt-to-equity ratio of 2.24, a current ratio of 3.27 and a quick ratio of 12.18. The company’s 50 day simple moving average is GBX 517.80 and its two-hundred day simple moving average is GBX 376.19. Ceres Power has a 1-year low of GBX 67 and a 1-year high of GBX 872.50. The firm has a market capitalization of £1.65 billion, a price-to-earnings ratio of -34.44 and a beta of 3.22.

Ceres Power (LON:CWR) last released its earnings results on Thursday, March 26th. The company reported GBX (24.52) earnings per share for the quarter. Ceres Power had a negative return on equity of 39.26% and a negative net margin of 145.65%. Analysts expect that Ceres Power will post -12.4426979 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Philip Caldwell sold 456,940 shares of Ceres Power stock in a transaction that occurred on Thursday, April 30th. The shares were sold at an average price of GBX 622, for a total value of £2,842,166.80. Company insiders own 8.03% 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.