Ceres Power (LON:CWR) Shares Down 12% – Here’s Why

Ceres Power Holdings plc (LON:CWR)’s share price fell 12% on Tuesday . The stock traded as low as GBX 230 and last traded at GBX 234.20. 3,846,493 shares changed 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.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on CWR shares. Jefferies Financial Group reissued a “buy” rating and issued a GBX 460 target price on shares of Ceres Power in a research note on Friday, November 7th. Berenberg Bank raised their price objective on shares of Ceres Power from GBX 300 to GBX 530 and gave the company a “buy” rating in a research note on Wednesday, November 19th. Two analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of GBX 495.

Ceres Power Stock Performance

The business has a fifty day simple moving average of GBX 302.28 and a two-hundred day simple moving average of GBX 176.21. The company has a market cap of £455.93 million, a P/E 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 released its quarterly earnings results on Friday, September 26th. The company reported GBX (10.14) EPS for the quarter. Ceres Power had a negative net margin of 101.69% and a negative return on equity of 22.96%. On average, 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.