Ceres Power (LON:CWR) Shares Down 8.5% – Should You Sell?

Ceres Power Holdings plc (LON:CWR) fell 8.5% during trading on Wednesday . The stock traded as low as GBX 580 and last traded at GBX 595.50. 89,363,672 shares traded hands during mid-day trading, an increase of 969% from the average session volume of 8,357,511 shares. The stock had previously closed at GBX 650.50.

Wall Street Analyst Weigh In

CWR has been the subject of several recent analyst reports. Berenberg Bank restated a “buy” rating and set a GBX 530 price objective on shares of Ceres Power in a research report on Thursday, March 26th. Jefferies Financial Group raised their price objective on Ceres Power from GBX 480 to GBX 920 and gave the stock a “buy” rating in a research report on Thursday, May 7th. Two research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Ceres Power has a consensus rating of “Buy” and a consensus price target of GBX 725.

Ceres Power Stock Up 16.6%

The firm has a 50 day moving average price of GBX 460.47 and a 200-day moving average price of GBX 357.18. The company has a current ratio of 3.27, a quick ratio of 12.18 and a debt-to-equity ratio of 2.24. The firm has a market cap of £1.51 billion, a PE ratio of -31.63 and a beta of 3.22.

Ceres Power (LON:CWR) last posted its earnings results on Thursday, March 26th. The company reported GBX (24.52) earnings per share for the quarter. Ceres Power had a negative return on equity of 39.26% and a negative net margin of 145.65%. Research analysts forecast that Ceres Power Holdings plc will post -12.4426979 EPS for the current fiscal year.

Insider Activity

In other news, insider Philip Caldwell sold 456,940 shares of the business’s stock in a transaction that occurred on Thursday, April 30th. The stock was sold at an average price of GBX 622, for a total value of £2,842,166.80. Insiders own 8.03% of the company’s stock.

About Ceres Power

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.