Ceres Power (LON:CWR) Trading Down 7.1% – Here’s What Happened

Ceres Power Holdings plc (LON:CWR)’s stock price fell 7.1% during mid-day trading on Friday . The company traded as low as GBX 321.80 and last traded at GBX 344.65. 8,545,840 shares were traded during mid-day trading, an increase of 310% from the average session volume of 2,084,024 shares. The stock had previously closed at GBX 371.

Analysts Set New Price Targets

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

Ceres Power Stock Performance

The stock has a 50-day moving average of GBX 219.46 and a 200 day moving average of GBX 136.81. The stock has a market cap of £646.46 million, a PE ratio of -18.22 and a beta of 1.60. The company has a quick ratio of 12.18, a current ratio of 6.48 and a debt-to-equity ratio of 1.54.

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 return on equity of 22.96% and a negative net margin of 101.69%. Equities analysts predict that Ceres Power Holdings plc will post -12.4426979 EPS 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.