Ceres Power (LON:CWR) Trading Down 8.5% – What’s Next?

Shares of Ceres Power Holdings plc (LON:CWR) were down 8.5% during mid-day trading on Wednesday . The company traded as low as GBX 580 and last traded at GBX 595.50. Approximately 89,363,672 shares were traded during mid-day trading, an increase of 969% from the average daily volume of 8,357,511 shares. The stock had previously closed at GBX 650.50.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on CWR shares. Jefferies Financial Group lifted their target price on shares of Ceres Power from GBX 480 to GBX 920 and gave the company a “buy” rating in a research note on Thursday, May 7th. Berenberg Bank reaffirmed a “buy” rating and set a GBX 530 target price on shares of Ceres Power in a research note on Thursday, March 26th. Two equities research analysts have rated the stock with a Buy rating, According to MarketBeat, Ceres Power currently has an average rating of “Buy” and a consensus target price of GBX 725.

Ceres Power Price Performance

The business’s 50 day moving average price is GBX 453.57 and its two-hundred day moving average price is GBX 354.42. The stock has a market cap of £1.16 billion, a P/E ratio of -24.29 and a beta of 3.22. The company has a current ratio of 3.27, a quick ratio of 12.18 and a debt-to-equity ratio of 2.24.

Ceres Power (LON:CWR) last announced its earnings results on Thursday, March 26th. The company reported GBX (24.52) earnings per share for the quarter. Ceres Power had a negative net margin of 145.65% and a negative return on equity of 39.26%. As a group, sell-side analysts expect that Ceres Power Holdings plc will post -12.4426979 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Philip Caldwell sold 456,940 shares of the business’s stock in a transaction dated Thursday, April 30th. The shares were sold at an average price of GBX 622, for a total transaction of £2,842,166.80. 8.03% of the stock is owned by insiders.

Ceres Power Company Profile

Ceres is a leading developer of clean energy technology: fuel cells for power generation and electrolysers for green hydrogen. Its asset-light, licensing model has seen it establish partnerships with some of the world’s largest companies, such as Doosan, Delta, Denso, Shell, Weichai and Thermax. Ceres’ solid oxide technology supports greater electrification of our energy systems, including AI data centres, commercial and industrial applications, and produces green hydrogen at high efficiencies as a route to decarbonise emissions-intensive industries such as ammonia, steelmaking and electrofuels.