Ceres Power (LON:CWR) Trading Down 10.4% – Here’s What Happened

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

Analyst Ratings Changes

Separately, Jefferies Financial Group reissued a “buy” rating and set a GBX 460 price objective on shares of Ceres Power in a research note on Friday, November 7th. Two equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of GBX 400.

Ceres Power Stock Performance

The stock has a 50 day simple moving average of GBX 219.46 and a 200 day simple moving average of GBX 137.36. The company has a quick ratio of 12.18, a current ratio of 6.48 and a debt-to-equity ratio of 1.54. The company has a market cap of £646.46 million, a price-to-earnings ratio of -18.22 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 (EPS) for the quarter. Ceres Power had a negative net margin of 101.69% and a negative return on equity of 22.96%. As a group, analysts predict that Ceres Power Holdings plc will post -12.4426979 EPS 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.