Ceres Power (LON:CWR) Shares Down 12% – Should You Sell?

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

Wall Street Analyst Weigh In

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

Ceres Power Stock Performance

The stock has a market cap of £455.93 million, a price-to-earnings ratio of -12.83 and a beta of 1.60. The stock’s 50-day simple moving average is GBX 302.73 and its two-hundred day simple moving average is GBX 177.35. The company has a debt-to-equity ratio of 1.54, a quick ratio of 12.18 and a current ratio of 6.48.

Ceres Power (LON:CWR) last released its 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%. Analysts forecast that Ceres Power Holdings plc will post -12.4426979 earnings per share for the current year.

Ceres Power Company Profile

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.