Ceres Power Shares Climb 8.2% as BlackRock Stake Build-Up Offsets Mixed Broker Views
Published on 09/30/2026 at 17:10 | Editorial boerse-global.de
Ceres Power shares advanced 8.2% on Wednesday to trade at EUR 5.00, a move that came without any fresh operational announcement or strategic decision from the fuel-cell developer. With no company-specific catalyst at hand, market watchers pointed to recent shifts in the shareholder register and the ongoing digestion of last week's interim results as the likely drivers.
BlackRock Crosses Reporting Threshold
Filings have revealed concrete repositioning among institutional holders. Asset manager BlackRock crossed a notification threshold on 22 September, and on 24 September the company disclosed that its voting rights in Ceres Power had risen to 6.78% in total. That holding breaks down into 10,769,694 direct voting rights alongside a further 3,761,490 voting rights held through financial instruments.
The routine monthly total voting rights update, published on Wednesday, put the issued share capital at 213,832,469 ordinary shares carrying voting rights. During September, 5,754 new ordinary shares were admitted to trading under the company's employee participation programmes.
First-Half Figures Still in Focus
The share price gain lands in a market still working through the group's first-half 2026 report, released roughly a week ago. Revenue for the period rose 8% to GBP 22.767 million, or GBP 22.8 million, compared with the prior-year stretch. The adjusted EBITDA loss narrowed to GBP 6.820 million, while the pre-tax loss was reduced to GBP 15.4 million.
Should investors sell immediately? Or is it worth buying Ceres Power?
Cost discipline played the central role in trimming the deficit. Operating expenses fell 14% to GBP 30.7 million over the six months, though the gross margin gave ground year on year — a reminder that lower spending came at some cost to operational profitability. Management is leaning on existing partnerships to demonstrate the technological maturity of its systems and to open the door to future licensing income.
As of 30 June, Ceres Power reported cash, cash equivalents and short-term investments of GBP 172.021 million, a figure that also reflects investment holdings. That compares with GBP 83.3 million at the end of last year. The increase stems largely from a capital raise completed in June, which brought in GBP 99.1 million net and widened the company's funding base, reducing its reliance on short-term inflows.
Partner Projects and Full-Year Guidance
Ceres Power's management is placing heavy emphasis on industrial execution by its partners, viewing progress in their manufacturing capacity as a key signal of the technology's practical viability. Within its collaboration network, Delta Electronics is investing GBP 240 million in a fuel-cell plant, while Doosan Fuel Cell has secured a supply contract worth roughly GBP 60 million with German firm Reverion. On 23 September, Ceres Power made clear that both agreements are standalone projects of the respective partners.
For full-year 2026, the company reaffirmed its guidance for contracted revenue of about GBP 45 million before new business, and expressed confidence in landing an additional licensing partner before the year is out.
Analysts Split on Price Targets
Sell-side reaction to the interim numbers was mixed but constructive in tone. Jefferies, according to media reports, reiterated its "Buy" rating on 23 September and left its price target at 920 pence, highlighting management's confidence in signing another production partner before year-end. Goldman Sachs followed on 24 September with a modest adjustment, trimming its target to 915 pence from 930 pence while keeping its buy recommendation intact. The latest valuations from the major houses continue to underpin the company's medium- to long-term prospects.
The stock closed the previous session at EUR 4.62, leaving it up 88% since the start of the year.
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Ceres Power Stock: New Analysis - 30 September
Fresh Ceres Power information released. What's the impact for investors? Our latest independent report examines recent figures and market trends.
