Ceres Power (LON:CWR) Stock Price Down 11.4% – Here’s Why

Ceres Power Holdings plc (LON:CWR)’s share price dropped 11.4% during trading on Friday . The stock traded as low as GBX 321.80 and last traded at GBX 328.62. Approximately 7,971,311 shares traded hands during trading, an increase of 283% from the average daily volume of 2,081,436 shares. The stock had previously closed at GBX 371.

Wall Street Analysts Forecast Growth

Separately, Jefferies Financial Group reissued a “buy” rating and set a GBX 460 price objective on shares of Ceres Power in a 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 a consensus price target of GBX 400.

Ceres Power Trading Down 10.4%

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 firm has a 50-day moving average of GBX 219.46 and a 200-day moving average of GBX 136.81. The firm has a market capitalization of £646.46 million, a P/E ratio of -18.22 and a beta of 1.60.

Ceres Power (LON:CWR) last posted its quarterly earnings results on Friday, September 26th. The company reported GBX (10.14) EPS for the quarter. Ceres Power had a negative net margin of 101.69% and a negative return on equity of 22.96%. On average, equities research analysts anticipate that Ceres Power Holdings plc will post -12.4426979 EPS 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.