Ceres Power (LON:CWR) Trading Down 11.4% – What’s Next?

Shares of Ceres Power Holdings plc (LON:CWR) fell 11.4% on Friday . The stock traded as low as GBX 321.80 and last traded at GBX 328.62. 7,971,311 shares were traded during trading, an increase of 283% from the average session volume of 2,081,436 shares. The stock had previously closed at GBX 371.

Wall Street Analyst Weigh In

Separately, Jefferies Financial Group restated a “buy” rating and set a GBX 460 price target on shares of Ceres Power in a research note on Friday, November 7th. Two analysts have rated the stock with a Buy rating, According to MarketBeat.com, Ceres Power presently has an average rating of “Buy” and a consensus price target of GBX 400.

Ceres Power Stock Performance

The stock has a market capitalization of £644.30 million, a PE ratio of -18.16 and a beta of 1.60. 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’s 50 day moving average is GBX 214.87 and its two-hundred day moving average is GBX 134.36.

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 return on equity of 22.96% and a negative net margin of 101.69%. As a group, research analysts predict 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.