Ceres Power (LON:CWR) Shares Down 14.8% – Here’s Why

Ceres Power Holdings plc (LON:CWR) shares traded down 14.8% during trading on Friday . The stock traded as low as GBX 307.53 and last traded at GBX 313.46. 6,301,889 shares changed hands during mid-day trading, an increase of 171% from the average session volume of 2,325,161 shares. The stock had previously closed at GBX 368.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on CWR shares. Jefferies Financial Group restated a “buy” rating and set a GBX 460 price objective on shares of Ceres Power in a research report on Friday, November 7th. Berenberg Bank raised their price target on Ceres Power from GBX 300 to GBX 530 and gave the stock a “buy” rating in a research report on Wednesday. Two analysts have rated the stock with a Buy rating, According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of GBX 495.

Ceres Power Price Performance

The stock has a market capitalization of £609.42 million, a P/E ratio of -17.18 and a beta of 1.60. The stock has a 50 day moving average of GBX 240.23 and a 200-day moving average of GBX 144.70. The company has a current ratio of 6.48, a quick ratio of 12.18 and a debt-to-equity ratio of 1.54.

Ceres Power (LON:CWR) last released its quarterly earnings data 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%. On average, equities research analysts anticipate that Ceres Power Holdings plc will post -12.4426979 earnings per share for the current fiscal 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.