Ceres Power (LON:CWR) Shares Down 9.4% – Here’s Why

Ceres Power Holdings plc (LON:CWR) fell 9.4% on Friday . The stock traded as low as GBX 119 ($1.59) and last traded at GBX 128.10 ($1.72). 21,239,518 shares traded hands during mid-day trading, an increase of 1,231% from the average session volume of 1,595,807 shares. The stock had previously closed at GBX 141.40 ($1.89).

Ceres Power Price Performance

The company has a debt-to-equity ratio of 1.54, a quick ratio of 12.18 and a current ratio of 6.48. The business has a 50 day simple moving average of GBX 115.81 and a 200-day simple moving average of GBX 86.99. The firm has a market cap of £250.03 million, a price-to-earnings ratio of -881.15 and a beta of 1.60.

Ceres Power (LON:CWR) last posted its earnings results on Friday, September 26th. The company reported GBX (10.14) earnings per share for the quarter. Ceres Power had a negative net margin of 101.69% and a negative return on equity of 22.96%. Equities research analysts expect that Ceres Power Holdings plc will post -12.4426979 earnings per share for the current 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.