Ceres Power (LON:CWR) Shares Down 10.4% – Here’s What Happened

Ceres Power Holdings plc (LON:CWR)’s stock price traded down 10.4% on Saturday . The stock traded as low as GBX 321.80 and last traded at GBX 332.51. 59,830,457 shares changed hands during trading, an increase of 2,484% from the average session volume of 2,315,036 shares. The stock had previously closed at GBX 371.

Analyst Upgrades and Downgrades

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, According to MarketBeat, the stock presently has an average rating of “Buy” and an average target price of GBX 400.

Ceres Power Price Performance

The company’s 50-day moving average is GBX 219.46 and its 200-day moving average is GBX 136.26. The firm has a market capitalization of £646.46 million, a price-to-earnings ratio of -18.22 and a beta of 1.60. The company has a debt-to-equity ratio of 1.54, a current ratio of 6.48 and a quick ratio of 12.18.

Ceres Power (LON:CWR) last announced 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%. On average, research analysts expect that Ceres Power Holdings plc will post -12.4426979 earnings per share 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.