Ceres Power (LON:CWR) Trading Down 14.8% – Here’s What Happened

Shares of Ceres Power Holdings plc (LON:CWR) fell 14.8% during trading on Saturday . The company traded as low as GBX 307.53 and last traded at GBX 313.46. 6,301,889 shares traded 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 Ratings Changes

CWR has been the subject of several recent analyst reports. Jefferies Financial Group reiterated a “buy” rating and issued a GBX 460 price objective on shares of Ceres Power in a report on Friday, November 7th. Berenberg Bank boosted their price objective on Ceres Power from GBX 300 to GBX 530 and gave the stock a “buy” rating in a research note on Wednesday. Two equities research analysts have rated the stock with a Buy rating, According to MarketBeat, Ceres Power currently has a consensus rating of “Buy” and an average price target of GBX 495.

Ceres Power Price Performance

The stock has a 50-day moving average of GBX 244.49 and a two-hundred day moving average of GBX 146.45. The firm has a market cap of £609.42 million, a price-to-earnings ratio of -17.18 and a beta of 1.60. The company has a current ratio of 6.48, a quick ratio of 12.18 and a debt-to-equity ratio of 1.54.

Ceres Power (LON:CWR) last announced 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%. On average, analysts anticipate that Ceres Power Holdings plc will post -12.4426979 EPS 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.