Ceres Power (LON:CWR) Trading Down 3.6% – Here’s What Happened

Ceres Power Holdings plc (LON:CWR) traded down 3.6% during trading on Tuesday . The stock traded as low as GBX 802.50 and last traded at GBX 814.50. 1,803,812 shares changed hands during mid-day trading, a decline of 75% from the average session volume of 7,167,714 shares. The stock had previously closed at GBX 844.50.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Jefferies Financial Group boosted their price target on shares of Ceres Power from GBX 480 to GBX 920 and gave the stock a “buy” rating in a report on Thursday, May 7th. Berenberg Bank boosted their price target on shares of Ceres Power from GBX 530 to GBX 980 and gave the stock a “buy” rating in a report on Friday. Two research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of GBX 950.

Ceres Power Price Performance

The firm has a market cap of £1.59 billion, a PE ratio of -33.22 and a beta of 3.22. The stock’s fifty day moving average price is GBX 527.80 and its 200-day moving average price is GBX 378.91. The company has a debt-to-equity ratio of 2.24, a current ratio of 3.27 and a quick ratio of 12.18.

Ceres Power (LON:CWR) last released its earnings results on Thursday, March 26th. The company reported GBX (24.52) earnings per share (EPS) for the quarter. Ceres Power had a negative return on equity of 39.26% and a negative net margin of 145.65%. As a group, equities analysts expect 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 company’s stock in a transaction on Thursday, April 30th. The shares were sold at an average price of GBX 622, for a total transaction of £2,842,166.80. 8.03% of the stock is owned by insiders.

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.