Ceres Power (LON:CWR) Stock Price Down 15.8% – What’s Next?

Ceres Power Holdings plc (LON:CWR) shares dropped 15.8% on Thursday. The stock traded as low as GBX 308.40 and last traded at GBX 311.80. 199,593,531 shares changed hands during trading, an increase of 1,766% from the average daily volume of 10,694,671 shares. The stock had previously closed at GBX 370.40.

Wall Street Analyst Weigh In

Separately, Berenberg Bank restated a “buy” rating and issued a GBX 950 price objective on shares of Ceres Power in a report on Wednesday, September 23rd. Two analysts have rated the stock with a Buy rating. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of GBX 935.

Ceres Power Price Performance

The company has a debt-to-equity ratio of 1.06, a current ratio of 10.54 and a quick ratio of 12.18. The company has a market capitalization of £659.89 million, a PE ratio of -13.44 and a beta of 3.00. The firm has a 50-day moving average of GBX 402.27 and a 200 day moving average of GBX 482.68.

Ceres Power (LON:CWR) last released its quarterly earnings data on Wednesday, September 23rd. The company reported GBX (8.58) EPS for the quarter. Ceres Power had a negative return on equity of 29.93% and a negative net margin of 130.56%. As a group, research analysts anticipate that Ceres Power Holdings plc will post -12.44 earnings per share for the current fiscal year.

Ceres Power Company Profile

Ceres is a leading developer of clean energy technology: fuel cells for power generation and electrolysers for green hydrogen. Its asset-light, licensing model has seen it establish partnerships with some of the world’s largest companies, such as Doosan, Delta, Denso, Shell, Weichai and Thermax. Ceres’ solid oxide technology supports greater electrification of our energy systems, including AI data centres, commercial and industrial applications, and produces green hydrogen at high efficiencies as a route to decarbonise emissions-intensive industries such as ammonia, steelmaking and electrofuels.