Ceres Power (LON:CWR) Trading Down 14.8% – Should You Sell?

Ceres Power Holdings plc (LON:CWR) shares dropped 14.8% during trading on Saturday . The company traded as low as GBX 307.53 and last traded at GBX 313.46. Approximately 6,301,889 shares changed hands during 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

A number of equities research analysts have recently issued reports on the company. Jefferies Financial Group reiterated a “buy” rating and issued a GBX 460 target price on shares of Ceres Power in a research note on Friday, November 7th. Berenberg Bank upped their price target on Ceres Power from GBX 300 to GBX 530 and gave the stock a “buy” rating in a report on Wednesday. Two investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company has an average rating of “Buy” and an average target price of GBX 495.

Ceres Power Stock Performance

The firm has a market cap of £609.42 million, a price-to-earnings ratio of -17.18 and a beta of 1.60. 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 company has a 50 day moving average of GBX 244.49 and a 200 day moving average of GBX 147.04.

Ceres Power (LON:CWR) last posted its quarterly earnings results on Friday, September 26th. The company reported GBX (10.14) earnings per share (EPS) for the quarter. Ceres Power had a negative net margin of 101.69% and a negative return on equity of 22.96%. As a group, equities research analysts expect 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.