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

Ceres Power Holdings plc (LON:CWR)’s share price dropped 12% during trading on Tuesday . The stock traded as low as GBX 230 and last traded at GBX 234.20. Approximately 3,846,493 shares were traded during mid-day trading, an increase of 46% from the average daily volume of 2,643,635 shares. The stock had previously closed at GBX 266.20.

Analyst Upgrades and Downgrades

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

Ceres Power Stock Down 12.0%

The company has a debt-to-equity ratio of 1.54, a quick ratio of 12.18 and a current ratio of 6.48. The stock’s 50 day simple moving average is GBX 302.28 and its 200 day simple moving average is GBX 176.21. The firm has a market cap of £455.93 million, a P/E ratio of -12.83 and a beta of 1.60.

Ceres Power (LON:CWR) last posted its earnings results on Friday, September 26th. The company reported GBX (10.14) earnings per share for the quarter. Ceres Power had a negative net margin of 101.69% and a negative return on equity of 22.96%. Research 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.