Ceres Power (LON:CWR) Stock Price Down 10.7% – Here’s Why

Shares of Ceres Power Holdings plc (LON:CWR) dropped 10.7% on Friday . The stock traded as low as GBX 328.60 and last traded at GBX 331.27. Approximately 7,193,373 shares changed hands during trading, an increase of 246% from the average daily volume of 2,077,932 shares. The stock had previously closed at GBX 371.

Analysts Set New Price Targets

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

Ceres Power Stock Performance

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 market cap of £644.30 million, a PE ratio of -18.16 and a beta of 1.60. The stock’s 50 day moving average price is GBX 214.87 and its 200 day moving average price is GBX 134.36.

Ceres Power (LON:CWR) last issued its quarterly earnings data on Friday, September 26th. The company reported GBX (10.14) 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, equities 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.