Ceres Power (LON:CWR) Shares Down 10.6% – Should You Sell?

Shares of Ceres Power Holdings plc (LON:CWR) were down 10.6% during mid-day trading on Thursday . The company traded as low as GBX 260.65 and last traded at GBX 275.80. Approximately 115,078,914 shares were traded during trading, an increase of 3,885% from the average daily volume of 2,887,835 shares. The stock had previously closed at GBX 308.60.

Analysts Set New Price Targets

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

Ceres Power Stock Performance

The company has a current ratio of 6.48, a quick ratio of 12.18 and a debt-to-equity ratio of 1.54. The business’s 50 day moving average is GBX 301.06 and its two-hundred day moving average is GBX 173.35. The company has a market cap of £530.29 million, a PE ratio of -14.93 and a beta of 1.60.

Ceres Power (LON:CWR) last issued its quarterly earnings results on Friday, September 26th. The company reported GBX (10.14) earnings per share (EPS) for the quarter. Ceres Power had a negative return on equity of 22.96% and a negative net margin of 101.69%. On average, equities research analysts anticipate 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.