Ceres Power (LON:CWR) Shares Down 12% – Time to Sell?

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

Analyst Ratings Changes

CWR has been the topic of several research analyst reports. Jefferies Financial Group restated a “buy” rating and set a GBX 460 target price on shares of Ceres Power in a research report on Friday, November 7th. Berenberg Bank raised their price objective on shares of Ceres Power from GBX 300 to GBX 530 and gave the company a “buy” rating in a research note on Wednesday, November 19th. Two analysts have rated the stock with a Buy rating, According to MarketBeat, the company has an average rating of “Buy” and an average target price of GBX 495.

Ceres Power Stock Performance

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’s 50 day moving average is GBX 302.28 and its 200 day moving average is GBX 176.21. The stock has a market capitalization of £455.93 million, a price-to-earnings ratio of -12.83 and a beta of 1.60.

Ceres Power (LON:CWR) last announced 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 net margin of 101.69% and a negative return on equity of 22.96%. On average, analysts predict 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.