Ceres Power (LON:CWR) Shares Down 7.1% – Here’s What Happened

Ceres Power Holdings plc (LON:CWR)’s stock price fell 7.1% on Friday . The company traded as low as GBX 321.80 and last traded at GBX 344.65. 8,545,840 shares traded hands during mid-day trading, an increase of 310% from the average session volume of 2,084,024 shares. The stock had previously closed at GBX 371.

Analysts Set New Price Targets

Separately, Jefferies Financial Group reiterated a “buy” rating and set a GBX 460 price objective 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, the stock has a consensus rating of “Buy” and a consensus target price of GBX 400.

Ceres Power Stock Down 7.6%

The company has a debt-to-equity ratio of 1.54, a quick ratio of 12.18 and a current ratio of 6.48. The company has a market capitalization of £666.70 million, a price-to-earnings ratio of -18.79 and a beta of 1.60. The stock’s fifty day simple moving average is GBX 214.87 and its two-hundred day simple moving average is GBX 134.36.

Ceres Power (LON:CWR) last announced its quarterly earnings data on Friday, September 26th. The company reported GBX (10.14) earnings per share (EPS) for the quarter. Ceres Power had a negative return on equity of 22.96% and a negative net margin of 101.69%. On average, sell-side analysts anticipate that Ceres Power Holdings plc will post -12.4426979 EPS 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.