Ceres Power (LON:CWR) Shares Down 14.8% – What’s Next?

Shares of Ceres Power Holdings plc (LON:CWR) traded down 14.8% on Friday . The stock traded as low as GBX 307.53 and last traded at GBX 313.46. 6,301,889 shares changed hands during trading, an increase of 171% from the average session volume of 2,325,161 shares. The stock had previously closed at GBX 368.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Jefferies Financial Group reiterated a “buy” rating and issued a GBX 460 price target on shares of Ceres Power in a research note on Friday, November 7th. Berenberg Bank upped their price objective on shares of Ceres Power from GBX 300 to GBX 530 and gave the company a “buy” rating in a report on Wednesday. Two research analysts have rated the stock with a Buy rating, According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of GBX 495.

Ceres Power Trading Down 14.8%

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 50-day simple moving average of GBX 240.23 and a 200 day simple moving average of GBX 144.70. The company has a market cap of £609.42 million, a price-to-earnings ratio of -17.18 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 (EPS) 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 predict 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.