Ceres Power (LON:CWR) Trading Down 10.4% – Should You Sell?

Ceres Power Holdings plc (LON:CWR) was down 10.4% during mid-day trading on Saturday . The company traded as low as GBX 321.80 and last traded at GBX 332.51. Approximately 59,830,457 shares were traded 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.

Wall Street Analysts Forecast Growth

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

Ceres Power Trading Down 10.4%

The company has a market capitalization of £646.46 million, a P/E ratio of -18.22 and a beta of 1.60. The company 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 debt-to-equity ratio of 1.54, a quick ratio of 12.18 and a current ratio of 6.48.

Ceres Power (LON:CWR) last issued 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 net margin of 101.69% and a negative return on equity of 22.96%. Sell-side analysts expect 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.