Ceres Power (LON:CWR) Stock Price Down 10.4% – Here’s Why

Ceres Power Holdings plc (LON:CWR)’s share price dropped 10.4% during mid-day trading on Saturday . The stock traded as low as GBX 321.80 and last traded at GBX 332.51. Approximately 59,830,457 shares were traded during trading, an increase of 2,484% from the average daily volume of 2,315,036 shares. The stock had previously closed at GBX 371.

Analyst Ratings Changes

Separately, Jefferies Financial Group reiterated a “buy” rating and set a GBX 460 price objective on shares of Ceres Power in a research report on Friday, November 7th. Two analysts have rated the stock with a Buy rating, According to data from MarketBeat, Ceres Power presently has an average rating of “Buy” and a consensus target price of GBX 400.

Ceres Power Trading Down 10.4%

The company has a market cap of £646.46 million, a price-to-earnings ratio of -18.22 and a beta of 1.60. The business’s fifty day moving average price is GBX 219.46 and its 200 day moving average price is GBX 136.26. The company has a debt-to-equity ratio of 1.54, a current ratio of 6.48 and a quick ratio of 12.18.

Ceres Power (LON:CWR) last announced its earnings results on Friday, September 26th. The company reported GBX (10.14) EPS for the quarter. Ceres Power had a negative return on equity of 22.96% and a negative net margin of 101.69%. 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.