Ceres Power (LON:CWR) Stock Price Down 10.4% – Here’s Why

Shares of Ceres Power Holdings plc (LON:CWR) were down 10.4% during mid-day trading on Friday . The company traded as low as GBX 321.80 and last traded at GBX 332.51. Approximately 59,830,457 shares changed hands during mid-day trading, an increase of 2,484% from the average daily volume of 2,315,036 shares. The stock had previously closed at GBX 371.

Analysts Set New Price Targets

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 research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of GBX 400.

Ceres Power Stock Down 10.4%

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 company has a quick ratio of 12.18, a current ratio of 6.48 and a debt-to-equity ratio of 1.54. The stock’s 50 day moving average is GBX 219.46 and its 200 day moving average is GBX 136.81.

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%. Analysts forecast that Ceres Power Holdings plc will post -12.4426979 EPS for the current 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.