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

Shares of Ceres Power Holdings plc (LON:CWR) were down 10.4% on Friday . The stock traded as low as GBX 321.80 and last traded at GBX 332.51. Approximately 59,830,457 shares changed hands during mid-day trading, an increase of 2,484% from the average daily volume of 2,315,036 shares. The stock had previously closed at GBX 371.

Analyst Ratings Changes

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

Ceres Power Stock Performance

The company has a market capitalization of £646.46 million, a P/E ratio of -18.22 and a beta of 1.60. The business has a 50 day moving average of GBX 219.46 and a 200 day moving average of GBX 136.81. The company has a quick ratio of 12.18, a current ratio of 6.48 and a debt-to-equity ratio of 1.54.

Ceres Power (LON:CWR) last issued 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 predict that Ceres Power Holdings plc will post -12.4426979 earnings per share 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.