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

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 mid-day trading, an increase of 2,484% from the average daily volume of 2,315,036 shares. The stock had previously closed at GBX 371.

Analysts Set New Price Targets

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

Ceres Power Stock Performance

The business’s 50-day moving average price is GBX 219.46 and its 200-day moving average price is GBX 137.36. The company has a current ratio of 6.48, a quick ratio of 12.18 and a debt-to-equity ratio of 1.54. The stock has a market cap of £646.46 million, a PE ratio of -18.22 and a beta of 1.60.

Ceres Power (LON:CWR) last released its quarterly earnings results on Friday, September 26th. The company reported GBX (10.14) earnings per share (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 expect 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.