Ceres Power (LON:CWR) Trading Down 10.4% – Here’s Why

Ceres Power Holdings plc (LON:CWR)’s stock price traded down 10.4% during trading on Friday . The stock traded as low as GBX 321.80 and last traded at GBX 332.51. 59,830,457 shares were traded 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 issued a GBX 460 target price on shares of Ceres Power in a report on Friday, November 7th. Two analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of GBX 400.

Ceres Power Price Performance

The company’s fifty day moving average price is GBX 219.46 and its two-hundred day moving average price is GBX 136.26. 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 company has a market cap of £646.46 million, a price-to-earnings ratio of -18.22 and a beta of 1.60.

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