Ceres Power (LON:CWR) Trading Down 10.6% – Time to Sell?

Ceres Power Holdings plc (LON:CWR) shares were down 10.6% on Thursday . The company traded as low as GBX 498.01 and last traded at GBX 509. 22,468,348 shares changed hands during mid-day trading, an increase of 161% from the average session volume of 8,615,017 shares. The stock had previously closed at GBX 569.50.

Analysts Set New Price Targets

Several brokerages have recently commented on CWR. Jefferies Financial Group restated a “buy” rating and set a GBX 920 price objective on shares of Ceres Power in a research report on Wednesday, June 10th. Berenberg Bank upped their target price on shares of Ceres Power from GBX 530 to GBX 980 and gave the stock a “buy” rating in a report on Friday, May 29th. Two analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of GBX 950.

Ceres Power Price Performance

The firm has a 50 day moving average of GBX 639.89 and a 200-day moving average of GBX 414.73. The company has a market cap of £883.37 million, a P/E ratio of -18.40 and a beta of 3.24. The company has a current ratio of 3.27, a quick ratio of 12.18 and a debt-to-equity ratio of 2.24.

Ceres Power (LON:CWR) last posted its quarterly earnings results on Thursday, March 26th. The company reported GBX (24.52) EPS for the quarter. Ceres Power had a negative return on equity of 39.26% and a negative net margin of 145.65%. On average, equities research analysts predict that Ceres Power Holdings plc will post -12.4426979 EPS for the current year.

Insider Activity at Ceres Power

In other news, insider Philip Caldwell sold 456,940 shares of the business’s stock in a transaction on Thursday, April 30th. The shares were sold at an average price of GBX 622, for a total value of £2,842,166.80. Company insiders own 7.94% of the company’s stock.

Ceres Power Company Profile

Ceres is a leading developer of clean energy technology: fuel cells for power generation and electrolysers for green hydrogen. Its asset-light, licensing model has seen it establish partnerships with some of the world’s largest companies, such as Doosan, Delta, Denso, Shell, Weichai and Thermax. Ceres’ solid oxide technology supports greater electrification of our energy systems, including AI data centres, commercial and industrial applications, and produces green hydrogen at high efficiencies as a route to decarbonise emissions-intensive industries such as ammonia, steelmaking and electrofuels.