Ceres Power (LON:CWR) Trading Down 12% – Here’s Why

Ceres Power Holdings plc (LON:CWR) shares fell 12% during mid-day trading on Tuesday . The stock traded as low as GBX 230 and last traded at GBX 234.20. 3,846,493 shares traded hands during trading, an increase of 46% from the average session volume of 2,643,635 shares. The stock had previously closed at GBX 266.20.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Berenberg Bank increased their price objective on shares of Ceres Power from GBX 300 to GBX 530 and gave the stock a “buy” rating in a research report on Wednesday, November 19th. Jefferies Financial Group reaffirmed a “buy” rating and set a GBX 460 price target on shares of Ceres Power in a research report on Friday, November 7th. Two research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of GBX 495.

Ceres Power Stock Performance

The stock has a market cap of £455.93 million, a PE ratio of -12.83 and a beta of 1.60. The stock has a fifty day simple moving average of GBX 302.28 and a two-hundred day simple moving average of GBX 176.21. The company has a debt-to-equity ratio of 1.54, a quick ratio of 12.18 and a current ratio of 6.48.

Ceres Power (LON:CWR) last posted its quarterly earnings data on Friday, September 26th. The company reported GBX (10.14) earnings per share (EPS) for the quarter. Ceres Power had a negative net margin of 101.69% and a negative return on equity of 22.96%. Equities analysts anticipate 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.