Ceres Power (LON:CWR) Trading Down 11.4% – Here’s What Happened

Ceres Power Holdings plc (LON:CWR) dropped 11.4% on Friday . The company traded as low as GBX 321.80 and last traded at GBX 328.62. 7,971,311 shares changed hands during mid-day trading, an increase of 283% from the average session volume of 2,081,436 shares. The stock had previously closed at GBX 371.

Analyst Ratings Changes

Separately, Jefferies Financial Group reiterated a “buy” rating and issued a GBX 460 price target on shares of Ceres Power in a research report on Friday, November 7th. Two investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of GBX 400.

Ceres Power Stock Down 10.7%

The company has a debt-to-equity ratio of 1.54, a quick ratio of 12.18 and a current ratio of 6.48. The firm’s 50 day moving average price is GBX 214.87 and its two-hundred day moving average price is GBX 134.36. The company has a market cap of £644.30 million, a P/E ratio of -18.16 and a beta of 1.60.

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%. Equities research analysts anticipate 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.