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

Ceres Power Holdings plc (LON:CWR)’s share 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 changed hands during mid-day trading, an increase of 2,484% from the average session volume of 2,315,036 shares. The stock had previously closed at GBX 371.

Wall Street Analyst Weigh In

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

Ceres Power Stock Performance

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’s fifty day simple moving average is GBX 219.46 and its 200 day simple moving average is GBX 137.36. 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 issued 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 anticipate that Ceres Power Holdings plc will post -12.4426979 earnings per share for the current 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.