Ceres Power (LON:CWR) Trading Down 12% – Should You Sell?

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

Analyst Ratings Changes

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

Ceres Power Stock Performance

The business has a 50 day moving average of GBX 302.73 and a 200-day moving average of GBX 177.35. The company has a market capitalization of £455.93 million, a P/E ratio of -12.83 and a beta of 1.60. The company has a debt-to-equity ratio of 1.54, a quick ratio of 12.18 and a current ratio of 6.48.

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