Ceres Power (LON:CWR) Stock Price Down 12% – Should You Sell?

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

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on CWR. Berenberg Bank increased their target price on Ceres Power from GBX 300 to GBX 530 and gave the stock a “buy” rating in a research report on Wednesday, November 19th. Jefferies Financial Group restated a “buy” rating and set a GBX 460 price target on shares of Ceres Power in a research report on Friday, November 7th. Two research analysts have rated the stock with a Buy rating, According to data from MarketBeat, Ceres Power currently has a consensus rating of “Buy” and an average price target 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 firm has a market capitalization of £455.93 million, a P/E ratio of -12.83 and a beta of 1.60. The business has a fifty day moving average of GBX 302.28 and a 200-day moving average of GBX 176.21.

Ceres Power (LON:CWR) last announced 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%. On average, sell-side analysts forecast that Ceres Power Holdings plc will post -12.4426979 EPS 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.