Ceres Power (LON:CWR) Shares Down 8.6% – Here’s What Happened

Ceres Power Holdings plc (LON:CWR) dropped 8.6% on Friday . The stock traded as low as GBX 119 ($1.59) and last traded at GBX 129.30 ($1.73). Approximately 20,725,980 shares traded hands during trading, an increase of 1,201% from the average daily volume of 1,593,061 shares. The stock had previously closed at GBX 141.40 ($1.89).

Ceres Power Trading Down 8.8%

The stock has a fifty day moving average of GBX 115.81 and a 200 day moving average of GBX 86.99. The company has a market capitalization of £250.03 million, a P/E ratio of -881.15 and a beta of 1.60. The company has a debt-to-equity ratio of 1.54, a quick ratio of 12.18 and a current ratio of 6.48.

Ceres Power (LON:CWR) last announced its earnings results on Friday, September 26th. The company reported GBX (10.14) EPS for the quarter. Ceres Power had a negative return on equity of 22.96% and a negative net margin of 101.69%. As a group, equities research analysts anticipate that Ceres Power Holdings plc will post -12.4426979 EPS for the current fiscal year.

About Ceres Power

Ceres is a leading developer of clean energy technology: electrolysis for the creation of green hydrogen and fuel
cells for power generation. Its asset-light, licensing model has seen it establish partnerships with some of the world’s largest companies, such as Bosch, Doosan, Delta and Weichai. Ceres’ solid oxide technology supports greater electrification of our energy systems and produces green hydrogen at high-efficiencies as a route to decarbonise emissions-intensive industries such as steelmaking, ammonia and future fuels.