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

Shares of Ceres Power Holdings plc (LON:CWR) traded down 12% on Tuesday . The stock traded as low as GBX 230 and last traded at GBX 234.20. 3,846,493 shares were traded during mid-day 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

CWR has been the subject of a number of recent analyst reports. 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, November 19th. Jefferies Financial Group reissued a “buy” rating and issued a GBX 460 price target on shares of Ceres Power in a report on Friday, November 7th. Two analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Ceres Power currently has a consensus rating of “Buy” and a consensus target price of GBX 495.

Ceres Power Stock Performance

The company’s fifty day simple moving average is GBX 302.73 and its two-hundred day simple moving average is GBX 177.35. The company has a market capitalization of £455.93 million, a price-to-earnings ratio of -12.83 and a beta of 1.60. 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 earnings results 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%. Equities research analysts predict that Ceres Power Holdings plc will post -12.4426979 earnings per share for the current fiscal 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.