Ceres Power (LON:CWR) Shares Down 14.8% – Time to Sell?

Ceres Power Holdings plc (LON:CWR) shares were down 14.8% on Saturday . The stock 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.

Wall Street Analysts Forecast Growth

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

Ceres Power Stock Performance

The stock has a market capitalization of £609.42 million, a price-to-earnings ratio of -17.18 and a beta of 1.60. The company has a current ratio of 6.48, a quick ratio of 12.18 and a debt-to-equity ratio of 1.54. The firm has a 50-day moving average of GBX 244.49 and a 200-day moving average of GBX 147.04.

Ceres Power (LON:CWR) last issued 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%. As a group, sell-side analysts predict 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.