Ceres Power (LON:CWR) Stock Price Down 9.9% – Time to Sell?

Ceres Power Holdings plc (LON:CWR) shares were down 9.9% during trading on Friday . The company traded as low as GBX 328.60 and last traded at GBX 334.20. Approximately 6,959,670 shares changed hands during mid-day trading, an increase of 235% from the average daily volume of 2,076,879 shares. The stock had previously closed at GBX 371.

Analysts Set New Price Targets

Separately, Jefferies Financial Group restated a “buy” rating and set 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, Based on data from MarketBeat, Ceres Power currently has an average rating of “Buy” and an average target price of GBX 400.

Ceres Power Stock Down 10.7%

The firm has a market cap of £644.30 million, a P/E ratio of -18.16 and a beta of 1.60. The firm’s fifty day moving average is GBX 214.87 and its 200 day moving average is GBX 134.36. 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 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 return on equity of 22.96% and a negative net margin of 101.69%. As a group, equities research 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.