Ceres Power (LON:CWR) Stock Price Down 10.7% – What’s Next?

Ceres Power Holdings plc (LON:CWR)’s stock price traded down 10.7% during mid-day trading on Friday . The company traded as low as GBX 321.80 and last traded at GBX 331.40. 8,229,739 shares traded hands during trading, an increase of 295% from the average session volume of 2,082,600 shares. The stock had previously closed at GBX 371.

Wall Street Analyst Weigh In

Separately, Jefferies Financial Group reiterated a “buy” rating and issued 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, According to MarketBeat, the company has a consensus rating of “Buy” and an average price target of GBX 400.

Ceres Power Trading Down 7.6%

The firm’s 50 day moving average is GBX 214.87 and its 200 day moving average is GBX 134.36. The company has a debt-to-equity ratio of 1.54, a current ratio of 6.48 and a quick ratio of 12.18. The company has a market capitalization of £666.70 million, a PE ratio of -18.79 and a beta of 1.60.

Ceres Power (LON:CWR) last announced its quarterly earnings results on Friday, September 26th. The company reported GBX (10.14) earnings per share 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 analysts predict that Ceres Power Holdings plc will post -12.4426979 EPS 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.