Ceres Power (LON:CWR) Stock Price Down 10.4% – Time to Sell?

Ceres Power Holdings plc (LON:CWR)’s share price fell 10.4% during mid-day trading on Friday . The stock traded as low as GBX 321.80 and last traded at GBX 332.51. 59,830,457 shares traded 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.

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 research note on Friday, November 7th. Two equities research analysts have rated the stock with a Buy rating, According to MarketBeat, Ceres Power presently has an average rating of “Buy” and a consensus target price of GBX 400.

Ceres Power Price Performance

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 company has a market cap of £646.46 million, a P/E ratio of -18.22 and a beta of 1.60. The firm’s fifty day moving average is GBX 219.46 and its two-hundred day moving average is GBX 136.81.

Ceres Power (LON:CWR) last released 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%. As a group, analysts anticipate 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.