Ceres Power (LON:CWR) Trading Down 14.8% – Here’s What Happened

Ceres Power Holdings plc (LON:CWR) was down 14.8% during trading on Saturday . The company traded as low as GBX 307.53 and last traded at GBX 313.46. Approximately 6,301,889 shares changed hands during mid-day 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

Several brokerages recently weighed in on CWR. Jefferies Financial Group reissued a “buy” rating and issued a GBX 460 target price on shares of Ceres Power in a research note on Friday, November 7th. Berenberg Bank raised their price objective on Ceres Power from GBX 300 to GBX 530 and gave the company a “buy” rating in a research report on Wednesday. Two equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of GBX 495.

Ceres Power Stock Down 14.8%

The stock has a fifty day moving average of GBX 244.49 and a 200-day moving average of GBX 146.45. The firm has a market capitalization of £609.42 million, a price-to-earnings ratio of -17.18 and a beta of 1.60. The company has a current ratio of 6.48, a quick ratio of 12.18 and a debt-to-equity ratio of 1.54.

Ceres Power (LON:CWR) last released its 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, sell-side analysts expect 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.