LONDON, July 4, 2026, 00:01 (BST)
- Ceres ended Friday at 527p, up 1.05% as London markets shut for the weekend.
- The stock jumped 16.8% for the week, though it’s still down 19.5% from the June 19 close.
- Ceres closed Friday 7.5% under the 570p level from its June equity raise.
- Fidelity lists half-year results as the next company marker, set for September.
London trading had ended at the dateline, which was just past midnight Saturday in the UK. Ceres Power Holdings plc (LON:CWR) last changed hands on Friday, finishing at 527p, up 5.5p for the session. Volume came in at 3.18 million shares, according to LSEG figures reported by Investors Chronicle.
The easier chart is the week view. Ceres jumped 16.8% from the June 26 close, though that followed a 31.1% slide the week before. Over the last two weeks, shares are still down 19.5%, so late June losses aren’t recovered.
| Week ended | Close | Weekly move | Shares traded | Volume as % of post-raise shares |
|---|---|---|---|---|
| June 26 | 451.20p | down 31.1% | 15.85 mln | 7.4% |
| July 3 | 527.00p | up 16.8% | 15.00 mln | 7.0% |
Volume came in lower. The rally saw about 5% fewer shares change hands versus last week’s slide, using the same daily numbers. The stock finished stronger, but without enough action to clear out the June move.
Ceres set the line at 570p, pricing 18 million new shares at that level on June 10. The offering brought in about 103 million pounds gross, around 100 million pounds net. Shares closed on Friday 7.5% below the offer, leaving recent buyers of the new equity with paper losses.
| Post-raise marker | Figure |
|---|---|
| Offer set | 570p |
| Stock closed Friday | 527p |
| Discount to offer | -7.5% |
| Total raised gross | £103 mln |
| Net to company | about £100 mln |
| Shares issued | 18.0 mln |
| Total shares on market | 213.8 mln |
| Market cap at Friday price | about £1.13 bln |
CEO Phil Caldwell said then, “The new funds present a clear opportunity to capitalise on commercial momentum for Ceres technology and ensure we are well placed for the future.” Investegate
With the new raise, cash looks less tight in the short term. The company said in June it had 78.7 million pounds in unaudited cash and short-term investments as of May 31, before the latest funding. That puts its funding pool around 179 million pounds pre-spending and other outflows.
Sales conversion remains tough. Ceres said its 2025 revenue fell 37% to 32.6 million pounds, with an adjusted EBITDA loss at 32.5 million pounds. Cash and short-term investments totaled 83.3 million pounds at the end of the year. For 2026, the company put contracted group revenue at about 45 million pounds, not counting new business.
The company’s own analyst consensus, updated April 24 from eight analysts, has 2026 revenue at 60.0 million pounds and adjusted EBITDA at 1.0 million pounds. That would mean revenue has to jump 84% from 2025.
| Measure | 2025 actual | 2026 consensus |
|---|---|---|
| Revenue | £32.6 million came in for 2025, while consensus for 2026 is £60.0 million | |
| Gross profit | Gross profit at £22.7 million in 2025. 2026 consensus stands at £42.1 million | |
| Adjusted EBITDA | Adjusted EBITDA showed a loss of £32.5 million for 2025, but consensus shifts to a £1.0 million profit in 2026 | |
| EBIT | EBIT booked a £37.2 million loss in 2025, narrowing to a £11.4 million loss seen in 2026 consensus |
Warning from brokers has slowed the rally. Panmure Liberum cut Ceres to sell from buy on June 4, flagging execution risk after a big jump in the stock, and put out a 590p target. Shares traded at 683p when the call landed. They finished this week below both that print and the new target.
No firms are slated to report this week. Fidelity’s site has the last Ceres update as a June 30 Total Voting Rights statement and still lists half-year numbers for September. So only the RNS, the 570p placing price, and any updates on partner revenue remain in play for next week.
