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

Ceres Power Holdings plc (LON:CWR) traded down 12% during mid-day trading on Tuesday . The company traded as low as GBX 230 and last traded at GBX 234.20. 3,846,493 shares traded hands during mid-day 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

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

Ceres Power Stock Up 0.7%

The stock has a market cap of £431.40 million, a price-to-earnings ratio of -12.14 and a beta of 1.60. The firm’s fifty day moving average price is GBX 303.43 and its two-hundred day moving average price is GBX 177.96. The company has a debt-to-equity ratio of 1.54, a current ratio of 6.48 and a quick ratio of 12.18.

Ceres Power (LON:CWR) last issued 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%. Sell-side analysts forecast that Ceres Power Holdings plc will post -12.4426979 earnings per share for the current fiscal 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.