Ceres Power (LON:CWR) Shares Down 14.8% – Here’s What Happened

Shares of Ceres Power Holdings plc (LON:CWR) dropped 14.8% during trading on Friday . The company traded as low as GBX 307.53 and last traded at GBX 313.46. Approximately 6,301,889 shares changed hands during mid-day trading, an increase of 171% from the average daily volume of 2,325,161 shares. The stock had previously closed at GBX 368.

Analyst Upgrades and Downgrades

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

Ceres Power Trading Down 14.8%

The stock has a market capitalization of £609.42 million, a P/E ratio of -17.18 and a beta of 1.60. The stock’s 50 day moving average price is GBX 240.23 and its 200-day moving average price is GBX 144.70. 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 posted its earnings results on Friday, September 26th. The company reported GBX (10.14) earnings per share (EPS) for the quarter. Ceres Power had a negative net margin of 101.69% and a negative return on equity of 22.96%. As a group, equities research analysts expect that Ceres Power Holdings plc will post -12.4426979 earnings per share 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.