Ceres Power (LON:CWR) Trading Down 14.8% – What’s Next?

Ceres Power Holdings plc (LON:CWR)’s share price dropped 14.8% during trading on Saturday . The stock traded as low as GBX 307.53 and last traded at GBX 313.46. Approximately 6,301,889 shares traded 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.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. 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. Berenberg Bank increased their price target on shares of Ceres Power from GBX 300 to GBX 530 and gave the company a “buy” rating in a research report on Wednesday. Two analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Ceres Power presently has an average rating of “Buy” and an average price target of GBX 495.

Ceres Power Stock Performance

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

Ceres Power (LON:CWR) last issued its quarterly earnings results on Friday, September 26th. The company reported GBX (10.14) 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, equities analysts predict 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.