Ceres Power (LON:CWR) Stock Price Down 10.7% – Should You Sell?

Ceres Power Holdings plc (LON:CWR) shares dropped 10.7% during trading on Friday . The stock traded as low as GBX 321.80 and last traded at GBX 331.40. Approximately 8,229,739 shares changed hands during trading, an increase of 295% from the average daily volume of 2,082,600 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 price objective on shares of Ceres Power in a report on Friday, November 7th. Two investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Ceres Power has an average rating of “Buy” and a consensus price target of GBX 400.

Ceres Power Stock Performance

The stock has a market cap of £666.70 million, a PE ratio of -18.79 and a beta of 1.60. The stock has a fifty day moving average of GBX 214.87 and a 200-day moving average of GBX 134.36. 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 data 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%. On average, equities analysts forecast that Ceres Power Holdings plc will post -12.4426979 EPS for the current 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.