Ceres Power (LON:CWR) Trading Down 10.6% – Time to Sell?

Shares of Ceres Power Holdings plc (LON:CWR) traded down 10.6% during mid-day trading on Thursday . The company traded as low as GBX 498.01 and last traded at GBX 509. Approximately 22,468,348 shares changed hands during trading, an increase of 161% from the average session volume of 8,615,017 shares. The stock had previously closed at GBX 569.50.

Wall Street Analyst Weigh In

CWR has been the topic of a number of research reports. Jefferies Financial Group restated a “buy” rating and issued a GBX 920 price target on shares of Ceres Power in a report on Wednesday, June 10th. Berenberg Bank lifted their target price on Ceres Power from GBX 530 to GBX 980 and gave the company a “buy” rating in a research report on Friday, May 29th. Two equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Ceres Power has a consensus rating of “Buy” and a consensus price target of GBX 950.

Ceres Power Stock Performance

The stock’s 50-day moving average price is GBX 635.67 and its 200 day moving average price is GBX 413.31. The firm has a market cap of £996.54 million, a P/E ratio of -20.76 and a beta of 3.24. The company has a debt-to-equity ratio of 2.24, a current ratio of 3.27 and a quick ratio of 12.18.

Ceres Power (LON:CWR) last released its earnings results on Thursday, March 26th. The company reported GBX (24.52) earnings per share for the quarter. Ceres Power had a negative net margin of 145.65% and a negative return on equity of 39.26%. As a group, equities analysts predict that Ceres Power Holdings plc will post -12.4426979 EPS for the current year.

Insider Activity at Ceres Power

In other news, insider Philip Caldwell sold 456,940 shares of the stock in a transaction dated Thursday, April 30th. The shares were sold at an average price of GBX 622, for a total transaction of £2,842,166.80. 7.94% of the stock is currently owned by corporate insiders.

About Ceres Power

Ceres is a leading developer of clean energy technology: fuel cells for power generation and electrolysers for green hydrogen. Its asset-light, licensing model has seen it establish partnerships with some of the world’s largest companies, such as Doosan, Delta, Denso, Shell, Weichai and Thermax. Ceres’ solid oxide technology supports greater electrification of our energy systems, including AI data centres, commercial and industrial applications, and produces green hydrogen at high efficiencies as a route to decarbonise emissions-intensive industries such as ammonia, steelmaking and electrofuels.