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

Ceres Power Holdings plc (LON:CWR)’s stock price traded down 10.4% during trading 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 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 reiterated a “buy” rating and set a GBX 460 target price on shares of Ceres Power in a research note on Friday, November 7th. Two research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of GBX 400.

Ceres Power Trading Down 10.4%

The stock has a 50-day moving average price of GBX 219.46 and a two-hundred day moving average price of GBX 137.36. The stock has a market capitalization of £646.46 million, a PE ratio of -18.22 and a beta of 1.60. 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 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, equities analysts forecast that Ceres Power Holdings plc will post -12.4426979 earnings per share 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.