Ceres Power (LON:CWR) Stock Price Down 12% – Here’s What Happened

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

Analysts Set New Price Targets

Several research firms recently weighed in on CWR. Jefferies Financial Group reissued a “buy” rating and issued a GBX 460 target price on shares of Ceres Power in a research note on Friday, November 7th. Berenberg Bank increased 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, November 19th. Two analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of GBX 495.

Ceres Power Trading Up 0.7%

The business has a 50 day moving average of GBX 303.43 and a two-hundred day moving average of GBX 177.96. The firm has a market cap of £431.40 million, a P/E ratio of -12.14 and a beta of 1.60. The company has a current ratio of 6.48, a quick ratio of 12.18 and a debt-to-equity ratio of 1.54.

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