Ceres Power (LON:CWR) Trading Down 10.7% – What’s Next?

Ceres Power Holdings plc (LON:CWR) shares were down 10.7% on Friday . The company traded as low as GBX 321.80 and last traded at GBX 331.40. Approximately 8,229,739 shares traded hands during mid-day trading, an increase of 295% from the average daily volume of 2,082,600 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, According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of GBX 400.

Ceres Power Price 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 firm has a market capitalization of £666.70 million, a price-to-earnings ratio of -18.79 and a beta of 1.60. The company has a fifty day moving average price of GBX 214.87 and a two-hundred day moving average price of GBX 134.36.

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 net margin of 101.69% and a negative return on equity of 22.96%. On average, equities research analysts expect 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.