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

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

Ceres Power Price Performance

The company has a fifty day simple moving average of GBX 219.46 and a 200 day simple moving average of GBX 136.81. The stock has a market capitalization of £646.46 million, a price-to-earnings ratio of -18.22 and a beta of 1.60. The company has a debt-to-equity ratio of 1.54, a quick ratio of 12.18 and a current ratio of 6.48.

Ceres Power (LON:CWR) last released its quarterly earnings results 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%. 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.