Ceres Power (LON:CWR) Shares Down 4.6% – Here’s What Happened

Ceres Power Holdings plc (LON:CWR) dropped 4.6% on Friday . The stock traded as low as GBX 321.80 and last traded at GBX 353.87. Approximately 8,820,141 shares traded hands during mid-day trading, an increase of 323% from the average daily volume of 2,085,260 shares. The stock had previously closed at GBX 371.

Analyst Upgrades and Downgrades

Separately, Jefferies Financial Group restated a “buy” rating and set a GBX 460 price target on shares of Ceres Power in a research report on Friday, November 7th. Two equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Ceres Power presently has an average rating of “Buy” and a consensus target price of GBX 400.

Ceres Power Stock Performance

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 cap of £646.46 million, a price-to-earnings ratio of -18.22 and a beta of 1.60. The stock has a fifty day moving average price of GBX 214.87 and a 200-day moving average price of GBX 134.36.

Ceres Power (LON:CWR) last issued its quarterly earnings data on Friday, September 26th. The company reported GBX (10.14) earnings per share (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, analysts expect 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.