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

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

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on CWR. Berenberg Bank raised their price target 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 reissued a “buy” rating and issued a GBX 460 target price on shares of Ceres Power in a research note on Friday, November 7th. Two research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of GBX 495.

Ceres Power Stock Down 14.8%

The firm has a 50 day simple moving average of GBX 244.49 and a two-hundred day simple moving average of GBX 146.45. 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 stock has a market cap of £609.42 million, a price-to-earnings ratio of -17.18 and a beta of 1.60.

Ceres Power (LON:CWR) last posted its earnings results on Friday, September 26th. The company reported GBX (10.14) earnings per share (EPS) 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, sell-side analysts expect that Ceres Power Holdings plc will post -12.4426979 EPS for the current year.

About Ceres Power

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.