Ceres Power (LON:CWR) Shares Down 14.8% – Here’s Why

Ceres Power Holdings plc (LON:CWR)’s share price fell 14.8% during trading on Friday . The company traded as low as GBX 307.53 and last traded at GBX 313.46. 6,301,889 shares were traded during mid-day trading, an increase of 171% from the average session volume of 2,325,161 shares. The stock had previously closed at GBX 368.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Jefferies Financial Group restated a “buy” rating and issued a GBX 460 price target on shares of Ceres Power in a report on Friday, November 7th. Berenberg Bank raised their target price on shares of Ceres Power from GBX 300 to GBX 530 and gave the company a “buy” rating in a research note on Wednesday. Two equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of GBX 495.

Ceres Power Stock Down 14.8%

The firm has a market capitalization of £609.42 million, a price-to-earnings ratio of -17.18 and a beta of 1.60. The company has a quick ratio of 12.18, a current ratio of 6.48 and a debt-to-equity ratio of 1.54. The company’s 50 day moving average price is GBX 244.49 and its 200 day moving average price is GBX 147.04.

Ceres Power (LON:CWR) last issued its 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%. As a group, research analysts forecast that Ceres Power Holdings plc will post -12.4426979 earnings per share 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.