Ceres Power (LON:CWR) Shares Down 10.4% – Time to Sell?

Ceres Power Holdings plc (LON:CWR)’s stock price dropped 10.4% on Saturday . The company traded as low as GBX 321.80 and last traded at GBX 332.51. Approximately 59,830,457 shares traded hands during trading, an increase of 2,484% from the average daily volume of 2,315,036 shares. The stock had previously closed at GBX 371.

Analyst Upgrades and Downgrades

Separately, Jefferies Financial Group restated a “buy” rating and set a GBX 460 price target on shares of Ceres Power in a report on Friday, November 7th. Two investment analysts have rated the stock with a Buy rating, According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of GBX 400.

Ceres Power Stock Down 10.4%

The stock has a market cap of £646.46 million, a price-to-earnings ratio of -18.22 and a beta of 1.60. The firm’s fifty day moving average price is GBX 219.46 and its two-hundred day moving average price is GBX 137.36. The company has a debt-to-equity ratio of 1.54, a current ratio of 6.48 and a quick ratio of 12.18.

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

Ceres Power Company Profile

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.