Ceres Power (LON:CWR) Shares Down 13.4% – Time to Sell?

Ceres Power Holdings plc (LON:CWR)’s share price fell 13.4% during trading on Friday . The stock traded as low as GBX 293.80 and last traded at GBX 295.40. 1,922,739 shares were traded during trading, a decline of 77% from the average session volume of 8,330,596 shares. The stock had previously closed at GBX 341.15.

Analysts Set New Price Targets

Separately, Berenberg Bank restated a “buy” rating and issued a GBX 530 price target on shares of Ceres Power in a research note on Thursday. Two investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, Ceres Power presently has a consensus rating of “Buy” and a consensus target price of GBX 495.

Ceres Power Stock Down 11.1%

The firm has a market cap of £590.76 million, a P/E ratio of -16.62 and a beta of 1.81. The firm’s 50-day moving average price is GBX 309.51 and its 200 day moving average price is GBX 272.48. The company has a debt-to-equity ratio of 2.24, a current ratio of 3.27 and a quick ratio of 12.18.

Ceres Power (LON:CWR) last announced its quarterly earnings data on Thursday, March 26th. The company reported GBX (24.52) earnings per share for the quarter. Ceres Power had a negative net margin of 145.65% and a negative return on equity of 39.26%. On average, equities research analysts expect that Ceres Power Holdings plc will post -12.4426979 earnings per share for the current fiscal 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.