Ceres Power (LON:CWR) Stock Price Down 14.8% – Here’s Why

Ceres Power Holdings plc (LON:CWR) shares were down 14.8% during mid-day trading on Friday . The stock traded as low as GBX 307.53 and last traded at GBX 313.46. Approximately 6,301,889 shares changed hands 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.

Analyst Ratings Changes

Several equities analysts recently commented on CWR shares. Jefferies Financial Group reaffirmed a “buy” rating and set a GBX 460 price target on shares of Ceres Power in a research report on Friday, November 7th. Berenberg Bank boosted their price objective 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 analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Ceres Power has a consensus rating of “Buy” and an average price target of GBX 495.

Ceres Power Price Performance

The company’s fifty day moving average is GBX 244.49 and its two-hundred day moving average is GBX 146.45. 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 market cap of £609.42 million, a price-to-earnings ratio of -17.18 and a beta of 1.60.

Ceres Power (LON:CWR) last released its quarterly earnings data 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%. Equities research 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.