Ceres Power (LON:CWR) Shares Down 10.4% – Should You Sell?

Shares of Ceres Power Holdings plc (LON:CWR) fell 10.4% during trading on Friday . The company traded as low as GBX 321.80 and last traded at GBX 332.51. 59,830,457 shares changed hands during mid-day trading, an increase of 2,484% from the average session volume of 2,315,036 shares. The stock had previously closed at GBX 371.

Analyst Ratings Changes

Separately, Jefferies Financial Group reiterated a “buy” rating and set a GBX 460 price objective on shares of Ceres Power in a research note on Friday, November 7th. Two equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, Ceres Power has a consensus rating of “Buy” and a consensus target price of GBX 400.

Ceres Power Stock Performance

The stock has a fifty day simple moving average of GBX 219.46 and a two-hundred day simple moving average of GBX 136.26. 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 has a market cap of £646.46 million, a price-to-earnings ratio of -18.22 and a beta of 1.60.

Ceres Power (LON:CWR) last posted its quarterly earnings results on Friday, September 26th. The company reported GBX (10.14) EPS for the quarter. Ceres Power had a negative return on equity of 22.96% and a negative net margin of 101.69%. Analysts expect that Ceres Power Holdings plc will post -12.4426979 EPS 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.