Ceres Power (LON:CWR) Stock Price Down 10.4% – What’s Next?

Ceres Power Holdings plc (LON:CWR)’s stock price was down 10.4% during trading on Friday . The company traded as low as GBX 321.80 and last traded at GBX 332.51. Approximately 59,830,457 shares were traded 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.

Analyst Ratings Changes

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

Ceres Power Price 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 stock has a market cap of £646.46 million, a P/E ratio of -18.22 and a beta of 1.60. The firm’s fifty day moving average price is GBX 214.87 and its 200-day moving average price is 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 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 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.