Ceres Power (LON:CWR) Stock Price Down 7.1% – Should You Sell?

Ceres Power Holdings plc (LON:CWR)’s stock price was down 7.1% during mid-day trading on Friday . The company traded as low as GBX 321.80 and last traded at GBX 344.65. Approximately 8,545,840 shares traded hands during trading, an increase of 310% from the average daily volume of 2,084,024 shares. The stock had previously closed at GBX 371.

Wall Street Analysts Forecast Growth

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

Ceres Power Stock Performance

The stock has a fifty day moving average price of GBX 214.87 and a two-hundred day moving average price of GBX 134.36. The company has a market cap of £666.70 million, a P/E ratio of -18.79 and a beta of 1.60. The company has a debt-to-equity ratio of 1.54, a current ratio of 6.48 and a quick ratio of 12.18.

Ceres Power (LON:CWR) last issued its quarterly earnings data 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 analysts forecast that Ceres Power Holdings plc will post -12.4426979 earnings per share for the current fiscal 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.