Ceres Power (LON:CWR) Trading Down 14.1% – Here’s What Happened

Ceres Power Holdings plc (LON:CWR)’s stock price traded down 14.1% during mid-day trading on Friday . The stock traded as low as GBX 312.60 and last traded at GBX 316.11. 12,789,755 shares traded hands during mid-day trading, an increase of 443% from the average session volume of 2,353,742 shares. The stock had previously closed at GBX 368.

Wall Street Analysts Forecast Growth

CWR has been the subject of a number of research analyst reports. Berenberg Bank boosted their price objective on Ceres Power from GBX 300 to GBX 530 and gave the stock a “buy” rating in a report on Wednesday. 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, Based on data from MarketBeat.com, Ceres Power currently has a consensus rating of “Buy” and a consensus target price of GBX 495.

Ceres Power Price Performance

The stock has a 50-day moving average price of GBX 240.23 and a two-hundred day moving average price of GBX 144.70. 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 cap of £609.42 million, a price-to-earnings ratio of -17.18 and a beta of 1.60.

Ceres Power (LON:CWR) last released 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%. As a group, equities research analysts forecast that Ceres Power Holdings plc will post -12.4426979 EPS for the current 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.