Ceres Power (LON:CWR) Shares Down 12% – What’s Next?

Ceres Power Holdings plc (LON:CWR)’s stock price fell 12% during mid-day trading 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

A number of equities research analysts have weighed in on the company. Jefferies Financial Group reiterated a “buy” rating and issued a GBX 460 price objective on shares of Ceres Power in a research note on Friday, November 7th. Berenberg Bank increased 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. Two analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of GBX 495.

Ceres Power Trading Down 12.0%

The company has a debt-to-equity ratio of 1.54, a quick ratio of 12.18 and a current ratio of 6.48. The stock has a market capitalization of £455.93 million, a PE ratio of -12.83 and a beta of 1.60. The business’s 50-day moving average is GBX 302.28 and its two-hundred day moving average is GBX 176.21.

Ceres Power (LON:CWR) last released its earnings results on Friday, September 26th. The company reported GBX (10.14) 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 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.