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

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

Wall Street Analysts Forecast Growth

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

Ceres Power Stock Down 10.4%

The company has a debt-to-equity ratio of 1.54, a current ratio of 6.48 and a quick ratio of 12.18. The stock’s 50 day simple moving average is GBX 219.46 and its two-hundred day simple moving average is GBX 136.26. The firm has a market cap of £646.46 million, a P/E ratio of -18.22 and a beta of 1.60.

Ceres Power (LON:CWR) last announced its quarterly 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%. As a group, research analysts forecast that Ceres Power Holdings plc will post -12.4426979 earnings per share for the current 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.