Ceres Power (LON:CWR) Shares Down 10.4% – Should You Sell?

Ceres Power Holdings plc (LON:CWR) shares dropped 10.4% during mid-day trading on Saturday . The stock traded as low as GBX 321.80 and last traded at GBX 332.51. Approximately 59,830,457 shares changed hands during trading, an increase of 2,484% from the average daily volume of 2,315,036 shares. The stock had previously closed at GBX 371.

Wall Street Analysts Forecast Growth

Separately, Jefferies Financial Group reaffirmed a “buy” rating and issued a GBX 460 price objective on shares of Ceres Power in a report on Friday, November 7th. Two investment analysts have rated the stock with a Buy rating, According to MarketBeat, Ceres Power has a consensus rating of “Buy” and an average target price of GBX 400.

Ceres Power Trading Down 10.4%

The firm has a 50-day moving average of GBX 219.46 and a 200 day moving average of GBX 136.26. The company has a current ratio of 6.48, a quick ratio of 12.18 and a debt-to-equity ratio of 1.54. The stock has a market capitalization of £646.46 million, a price-to-earnings ratio of -18.22 and a beta of 1.60.

Ceres Power (LON:CWR) last released its quarterly earnings results on Friday, September 26th. The company reported GBX (10.14) earnings per share (EPS) for the quarter. Ceres Power had a negative return on equity of 22.96% and a negative net margin of 101.69%. As a group, equities analysts predict that Ceres Power Holdings plc will post -12.4426979 EPS for the current fiscal year.

Ceres Power Company Profile

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.