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

Ceres Power Holdings plc (LON:CWR) fell 10.4% during trading on Saturday . The stock traded as low as GBX 321.80 and last traded at GBX 332.51. 59,830,457 shares were traded during trading, an increase of 2,484% from the average session volume of 2,315,036 shares. The stock had previously closed at GBX 371.

Analyst Upgrades and Downgrades

Separately, Jefferies Financial Group reiterated a “buy” rating and issued a GBX 460 price target on shares of Ceres Power in a research report on Friday, November 7th. Two analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of GBX 400.

Ceres Power Stock Performance

The firm’s 50-day simple moving average is GBX 219.46 and its two-hundred day simple moving average is GBX 136.26. The company has a current ratio of 6.48, a quick ratio of 12.18 and a debt-to-equity ratio of 1.54. The stock has a market capitalization of £646.46 million, a PE ratio of -18.22 and a beta of 1.60.

Ceres Power (LON:CWR) last issued its earnings results on Friday, September 26th. The company reported GBX (10.14) 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, 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.