Ceres Power (LON:CWR) Shares Down 12.9% – Here’s What Happened

Ceres Power Holdings plc (LON:CWR) dropped 12.9% during mid-day trading on Tuesday . The stock traded as low as GBX 230 and last traded at GBX 231.88. Approximately 61,801,953 shares changed hands during mid-day trading, an increase of 2,045% from the average daily volume of 2,881,158 shares. The stock had previously closed at GBX 266.20.

Wall Street Analyst Weigh In

Several research analysts 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 report on Friday, November 7th. Berenberg Bank increased their target price on Ceres Power from GBX 300 to GBX 530 and gave the stock a “buy” rating in a research report on Wednesday, November 19th. Two research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of GBX 495.

Ceres Power Trading Up 0.7%

The company has a debt-to-equity ratio of 1.54, a current ratio of 6.48 and a quick ratio of 12.18. The stock’s 50 day moving average is GBX 303.43 and its 200-day moving average is GBX 177.96. The company has a market capitalization of £431.40 million, a P/E ratio of -12.14 and a beta of 1.60.

Ceres Power (LON:CWR) last posted its earnings results on Friday, September 26th. The company reported GBX (10.14) earnings per share 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 research analysts anticipate that Ceres Power Holdings plc will post -12.4426979 earnings per share for the current 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.