Ceres Power (LON:CWR) Shares Down 12% – Here’s What Happened

Ceres Power Holdings plc (LON:CWR)’s share price traded down 12% during trading on Tuesday . The company traded as low as GBX 230 and last traded at GBX 234.20. 3,846,493 shares were traded during mid-day trading, an increase of 46% from the average session volume of 2,643,635 shares. The stock had previously closed at GBX 266.20.

Analyst Ratings Changes

A number of brokerages have recently issued reports on CWR. Jefferies Financial Group reissued a “buy” rating and set a GBX 460 price objective on shares of Ceres Power in a research report on Friday, November 7th. Berenberg Bank lifted their target price on Ceres Power from GBX 300 to GBX 530 and gave the company a “buy” rating in a research report on Wednesday, November 19th. Two research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of GBX 495.

Ceres Power Price Performance

The firm has a 50 day moving average of GBX 302.73 and a 200-day moving average of GBX 177.35. The company has a current ratio of 6.48, a quick ratio of 12.18 and a debt-to-equity ratio of 1.54. The company has a market cap of £455.93 million, a P/E ratio of -12.83 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 (EPS) for the quarter. Ceres Power had a negative net margin of 101.69% and a negative return on equity of 22.96%. On average, equities research 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.