Ceres Power (LON:CWR) Trading Down 14.8% – Here’s Why

Ceres Power Holdings plc (LON:CWR)’s share price fell 14.8% on Friday . The company traded as low as GBX 307.53 and last traded at GBX 313.46. 6,301,889 shares changed hands during mid-day trading, an increase of 171% from the average session volume of 2,325,161 shares. The stock had previously closed at GBX 368.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on CWR shares. Berenberg Bank lifted their price target on shares of Ceres Power from GBX 300 to GBX 530 and gave the company a “buy” rating in a research note on Wednesday. Jefferies Financial Group reaffirmed a “buy” rating and issued a GBX 460 target price 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 MarketBeat.com, Ceres Power has an average rating of “Buy” and an average target price of GBX 495.

Ceres Power Stock Performance

The company has a quick ratio of 12.18, a current ratio of 6.48 and a debt-to-equity ratio of 1.54. The stock’s fifty day moving average is GBX 240.23 and its two-hundred day moving average is GBX 144.70. The firm has a market capitalization of £609.42 million, a price-to-earnings ratio of -17.18 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) EPS for the quarter. Ceres Power had a negative net margin of 101.69% and a negative return on equity of 22.96%. On average, analysts predict that Ceres Power Holdings plc will post -12.4426979 earnings per share for the current 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.