Ceres Power (LON:CWR) Trading Down 10.4% – What’s Next?

Ceres Power Holdings plc (LON:CWR)’s share price was down 10.4% during trading on Saturday . The stock 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.

Wall Street Analysts Forecast Growth

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

Ceres Power Price Performance

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 stock’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 market capitalization 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 quarterly earnings results on Friday, September 26th. The company reported GBX (10.14) earnings per share for the quarter. Ceres Power had a negative net margin of 101.69% and a negative return on equity of 22.96%. Equities research 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.