Ceres Power (LON:CWR) Shares Down 12% – Here’s What Happened

Ceres Power Holdings plc (LON:CWR) fell 12% on Tuesday . The stock traded as low as GBX 230 and last traded at GBX 234.20. 3,846,493 shares changed hands during trading, an increase of 46% from the average session volume of 2,643,635 shares. The stock had previously closed at GBX 266.20.

Analysts Set New Price Targets

Several research firms have issued reports on CWR. Berenberg Bank boosted their price target on Ceres Power from GBX 300 to GBX 530 and gave the company a “buy” rating in a report on Wednesday, November 19th. Jefferies Financial Group reaffirmed a “buy” rating and issued a GBX 460 price objective on shares of Ceres Power in a research note on Friday, November 7th. Two investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of GBX 495.

Ceres Power Price Performance

The company has a debt-to-equity ratio of 1.54, a quick ratio of 12.18 and a current ratio of 6.48. The company has a market cap of £455.93 million, a P/E ratio of -12.83 and a beta of 1.60. The firm’s fifty day moving average is GBX 302.28 and its two-hundred day moving average is GBX 176.21.

Ceres Power (LON:CWR) last announced its quarterly earnings data on Friday, September 26th. The company reported GBX (10.14) EPS 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.

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.