Ceres Power (LON:CWR) Stock Price Down 10.4% – Here’s What Happened

Shares of Ceres Power Holdings plc (LON:CWR) dropped 10.4% during mid-day trading on Saturday . The stock traded as low as GBX 321.80 and last traded at GBX 332.51. Approximately 59,830,457 shares were traded during trading, an increase of 2,484% from the average daily volume of 2,315,036 shares. The stock had previously closed at GBX 371.

Wall Street Analysts Forecast Growth

Separately, Jefferies Financial Group reissued a “buy” rating and issued a GBX 460 price target on shares of Ceres Power in a research report on Friday, November 7th. Two investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Ceres Power presently has a consensus rating of “Buy” and an average target price of GBX 400.

Ceres Power Trading Down 10.4%

The stock has a market cap of £646.46 million, a PE ratio of -18.22 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. The stock’s fifty day moving average price is GBX 219.46 and its 200 day moving average price is GBX 136.81.

Ceres Power (LON:CWR) last announced 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%. On average, sell-side analysts forecast that Ceres Power Holdings plc will post -12.4426979 EPS for the current 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.