Ceres Power (LON:CWR) Shares Down 3.6% – Here’s Why

Ceres Power Holdings plc (LON:CWR)’s stock price dropped 3.6% on Tuesday . The stock traded as low as GBX 802.50 and last traded at GBX 814.50. Approximately 1,803,812 shares traded hands during trading, a decline of 75% from the average daily volume of 7,167,714 shares. The stock had previously closed at GBX 844.50.

Analyst Upgrades and Downgrades

CWR has been the topic of several recent research reports. Jefferies Financial Group lifted their price objective on Ceres Power from GBX 480 to GBX 920 and gave the stock a “buy” rating in a report on Thursday, May 7th. Berenberg Bank lifted their price objective on Ceres Power from GBX 530 to GBX 980 and gave the stock a “buy” rating in a report on Friday, May 29th. Two research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of GBX 950.

Ceres Power Trading Down 5.2%

The company has a 50-day simple moving average of GBX 547.19 and a 200-day simple moving average of GBX 384.83. The company has a debt-to-equity ratio of 2.24, a quick ratio of 12.18 and a current ratio of 3.27. The stock has a market cap of £1.45 billion, a P/E ratio of -30.32 and a beta of 3.24.

Ceres Power (LON:CWR) last issued its quarterly earnings data on Thursday, March 26th. The company reported GBX (24.52) earnings per share (EPS) for the quarter. Ceres Power had a negative net margin of 145.65% and a negative return on equity of 39.26%. On average, sell-side analysts forecast that Ceres Power Holdings plc will post -12.4426979 EPS for the current fiscal year.

Insider Transactions at Ceres Power

In other Ceres Power news, insider Philip Caldwell sold 456,940 shares of Ceres Power stock in a transaction on Thursday, April 30th. The stock was sold at an average price of GBX 622, for a total value of £2,842,166.80. Insiders own 8.03% of the company’s stock.

Ceres Power Company Profile

Ceres is a leading developer of clean energy technology: fuel cells for power generation and electrolysers for green hydrogen. Its asset-light, licensing model has seen it establish partnerships with some of the world’s largest companies, such as Doosan, Delta, Denso, Shell, Weichai and Thermax. Ceres’ solid oxide technology supports greater electrification of our energy systems, including AI data centres, commercial and industrial applications, and produces green hydrogen at high efficiencies as a route to decarbonise emissions-intensive industries such as ammonia, steelmaking and electrofuels.