Ceres Power (LON:CWR) Stock Price Down 14.8% – Time to Sell?

Ceres Power Holdings plc (LON:CWR) dropped 14.8% during mid-day trading on Saturday . The stock traded as low as GBX 307.53 and last traded at GBX 313.46. Approximately 6,301,889 shares changed hands during trading, an increase of 171% from the average daily volume of 2,325,161 shares. The stock had previously closed at GBX 368.

Analysts Set New Price Targets

CWR has been the subject of a number of recent research reports. Berenberg Bank increased their price objective on shares of Ceres Power from GBX 300 to GBX 530 and gave the company a “buy” rating in a report on Wednesday. Jefferies Financial Group reaffirmed a “buy” rating and issued a GBX 460 price target on shares of Ceres Power in a report on Friday, November 7th. Two equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of GBX 495.

Ceres Power Stock Down 14.8%

The company has a debt-to-equity ratio of 1.54, a current ratio of 6.48 and a quick ratio of 12.18. The company has a market capitalization of £609.42 million, a PE ratio of -17.18 and a beta of 1.60. The business’s 50 day simple moving average is GBX 244.49 and its 200 day simple moving average is GBX 146.45.

Ceres Power (LON:CWR) last posted 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%. 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.