Ceres Power (LON:CWR) Stock Price Down 12.9% – Here’s Why

Ceres Power Holdings plc (LON:CWR)’s stock price was down 12.9% on Tuesday . The stock traded as low as GBX 230 and last traded at GBX 231.88. Approximately 61,801,953 shares traded hands during trading, an increase of 2,045% from the average daily volume of 2,881,158 shares. The stock had previously closed at GBX 266.20.

Analyst Ratings Changes

CWR has been the topic of a number of analyst reports. Jefferies Financial Group reaffirmed a “buy” rating and set a GBX 460 price objective on shares of Ceres Power in a report on Friday, November 7th. Berenberg Bank upped their price objective on shares of Ceres Power from GBX 300 to GBX 530 and gave the stock a “buy” rating in a research report on Wednesday, November 19th. Two analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of GBX 495.

Ceres Power Trading Down 12.0%

The stock has a market capitalization of £455.93 million, a PE ratio of -12.83 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. The firm has a 50-day moving average price of GBX 302.28 and a 200-day moving average price of GBX 176.21.

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 net margin of 101.69% and a negative return on equity of 22.96%. As a group, equities 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.