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

Ceres Power Holdings plc (LON:CWR) dropped 14.8% 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 Analysts Forecast Growth

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

Ceres Power Price Performance

The company has a current ratio of 6.48, a quick ratio of 12.18 and a debt-to-equity ratio of 1.54. The firm’s 50-day moving average price is GBX 244.49 and its two-hundred day moving average price is GBX 147.04. The stock has a market cap of £609.42 million, a PE ratio of -17.18 and a beta of 1.60.

Ceres Power (LON:CWR) last issued its quarterly earnings data on Friday, September 26th. The company reported GBX (10.14) earnings per share (EPS) for the quarter. Ceres Power had a negative net margin of 101.69% and a negative return on equity of 22.96%. On average, equities analysts expect that Ceres Power Holdings plc will post -12.4426979 earnings per share for the current fiscal 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.