Ceres Power (LON:CWR) Trading Down 12% – What’s Next?

Ceres Power Holdings plc (LON:CWR)’s stock price dropped 12% during mid-day trading on Tuesday . The stock traded as low as GBX 230 and last traded at GBX 234.20. Approximately 3,846,493 shares changed hands 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.

Analysts Set New Price Targets

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

Ceres Power Stock Down 12.0%

The stock has a 50-day moving average of GBX 302.28 and a 200 day moving average of GBX 176.21. The company has a market capitalization of £455.93 million, a PE ratio of -12.83 and a beta of 1.60. The company has a quick ratio of 12.18, a current ratio of 6.48 and a debt-to-equity ratio of 1.54.

Ceres Power (LON:CWR) last posted its quarterly earnings data 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%. Sell-side analysts anticipate that Ceres Power Holdings plc will post -12.4426979 EPS 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.