Ceres Power (LON:CWR) Stock Price Down 11.4% – Should You Sell?

Ceres Power Holdings plc (LON:CWR) was down 11.4% on Thursday. The company traded as low as GBX 257 and last traded at GBX 257. Approximately 2,911,672 shares were traded during mid-day trading, a decline of 70% from the average daily volume of 9,558,107 shares. The stock had previously closed at GBX 290.

Wall Street Analysts Forecast Growth

Separately, Berenberg Bank restated a “buy” rating and issued a GBX 950 price objective on shares of Ceres Power in a research report on Wednesday, September 23rd. Two research analysts have rated the stock with a Buy rating. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of GBX 935.

Ceres Power Stock Up 1.1%

The firm’s 50 day moving average is GBX 384.88 and its 200-day moving average is GBX 481.04. The firm has a market cap of £555.54 million, a PE ratio of -11.32 and a beta of 3.00. The company has a quick ratio of 12.18, a current ratio of 10.54 and a debt-to-equity ratio of 1.06.

Ceres Power (LON:CWR) last released its earnings results on Wednesday, September 23rd. The company reported GBX (8.58) EPS for the quarter. Ceres Power had a negative return on equity of 17.63% and a negative net margin of 74.23%. As a group, equities research analysts expect that Ceres Power Holdings plc will post -12.44 earnings per share for the current fiscal year.

Ceres Power Company Profile

Ceres is a leading developer of clean energy technology: fuel cells for power generation and electrolysers for green hydrogen. Its asset-light, licensing model has seen it establish partnerships with some of the world’s largest companies, such as Doosan, Delta, Denso, Shell, Weichai and Thermax. Ceres’ solid oxide technology supports greater electrification of our energy systems, including AI data centres, commercial and industrial applications, and produces green hydrogen at high efficiencies as a route to decarbonise emissions-intensive industries such as ammonia, steelmaking and electrofuels.