Ceres Power (LON:CWR) Shares Down 14.8% – Should You Sell?

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

Analysts Set New Price Targets

CWR has been the topic of a number of research analyst reports. Jefferies Financial Group reissued 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 lifted their target price on shares of Ceres Power from GBX 300 to GBX 530 and gave the company a “buy” rating in a research note on Wednesday. Two equities research analysts have rated the stock with a Buy rating, According to MarketBeat, Ceres Power presently has a consensus rating of “Buy” and a consensus price target of GBX 495.

Ceres Power Stock Down 14.8%

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’s 50-day moving average price is GBX 244.49 and its two-hundred day moving average price is GBX 146.45. The stock has a market capitalization of £609.42 million, a PE ratio of -17.18 and a beta of 1.60.

Ceres Power (LON:CWR) last posted 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%. As a group, analysts expect that Ceres Power Holdings plc will post -12.4426979 EPS 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.