Ceres Power (LON:CWR) Shares Down 12% – Here’s Why

Ceres Power Holdings plc (LON:CWR)’s share price traded down 12% on Tuesday . The company traded as low as GBX 230 and last traded at GBX 234.20. 3,846,493 shares changed hands during trading, an increase of 46% from the average session volume of 2,643,635 shares. The stock had previously closed at GBX 266.20.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on CWR. Berenberg Bank boosted their price target on shares of Ceres Power from GBX 300 to GBX 530 and gave the stock a “buy” rating in a research note on Wednesday, November 19th. Jefferies Financial Group reissued a “buy” rating and issued a GBX 460 target price on shares of Ceres Power in a research note on Friday, November 7th. Two equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Ceres Power has an average rating of “Buy” and a consensus price target of GBX 495.

Ceres Power Stock Down 12.0%

The company’s fifty day simple moving average is GBX 302.73 and its 200 day simple moving average is GBX 177.35. The company has a quick ratio of 12.18, a current ratio of 6.48 and a debt-to-equity ratio of 1.54. The firm has a market capitalization of £455.93 million, a PE ratio of -12.83 and a beta of 1.60.

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