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

Ceres Power Holdings plc (LON:CWR) traded down 12% during mid-day trading on Tuesday . The company traded as low as GBX 230 and last traded at GBX 234.20. 3,846,493 shares traded hands 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 Upgrades and Downgrades

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

Ceres Power Stock Down 12.0%

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 cap of £455.93 million, a P/E ratio of -12.83 and a beta of 1.60. The business’s 50 day moving average price is GBX 302.28 and its 200-day moving average price is GBX 176.21.

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 return on equity of 22.96% and a negative net margin of 101.69%. On average, analysts anticipate that Ceres Power Holdings plc will post -12.4426979 earnings per share 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.