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

Ceres Power Holdings plc (LON:CWR) shares fell 14.8% on Saturday . The company 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

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

Ceres Power Price Performance

The company has a 50 day moving average of GBX 244.49 and a 200 day moving average of GBX 146.45. The stock 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.

Ceres Power (LON:CWR) last posted its quarterly earnings results on Friday, September 26th. The company reported GBX (10.14) earnings per share 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 fiscal 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.