Ceres Power (LON:CWR) Trading Down 9.5% – Here’s Why

Ceres Power Holdings plc (LON:CWR) traded down 9.5% during trading on Friday . The company traded as low as GBX 328.60 and last traded at GBX 335.80. 6,680,946 shares traded hands during mid-day trading, an increase of 222% from the average session volume of 2,075,624 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 report on Friday, November 7th. Two investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of GBX 400.

Ceres Power Price Performance

The company has a 50 day moving average of GBX 214.87 and a 200 day moving average of GBX 134.36. 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 has a market capitalization of £644.30 million, a price-to-earnings ratio of -18.16 and a beta of 1.60.

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