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

Ceres Power Holdings plc (LON:CWR) shares traded down 12% on Tuesday . The stock 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 equities research analysts have recently issued reports on the stock. Jefferies Financial Group restated a “buy” rating and issued a GBX 460 price objective on shares of Ceres Power in a research note on Friday, November 7th. Berenberg Bank raised their price target on shares of Ceres Power from GBX 300 to GBX 530 and gave the stock a “buy” rating in a research report on Wednesday, November 19th. Two investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of GBX 495.

Ceres Power Stock Performance

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 firm has a 50-day moving average of GBX 302.28 and a 200 day moving average of GBX 176.21. The stock has a market capitalization 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 data 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%. Research analysts anticipate 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.