Ceres Power (LON:CWR) Trading Down 14.8% – What’s Next?

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

Analyst Upgrades and Downgrades

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

Ceres Power Stock Performance

The company has a debt-to-equity ratio of 1.54, a current ratio of 6.48 and a quick ratio of 12.18. The firm has a market capitalization of £609.42 million, a PE ratio of -17.18 and a beta of 1.60. The firm has a fifty day moving average price of GBX 244.49 and a 200 day moving average price of GBX 146.45.

Ceres Power (LON:CWR) last issued 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 return on equity of 22.96% and a negative net margin of 101.69%. Research analysts anticipate that Ceres Power Holdings plc will post -12.4426979 earnings per share 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.