Ceres Power (LON:CWR) Shares Down 9.9% – Here’s Why

Ceres Power Holdings plc (LON:CWR)’s stock price fell 9.9% on Friday . The stock traded as low as GBX 328.60 and last traded at GBX 334.20. 6,959,670 shares were traded during trading, an increase of 235% from the average session volume of 2,076,879 shares. The stock had previously closed at GBX 371.

Analyst Ratings Changes

Separately, Jefferies Financial Group restated a “buy” rating and set a GBX 460 price target 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, the company currently has an average rating of “Buy” and an average price target of GBX 400.

Ceres Power Price Performance

The company has a market capitalization of £644.30 million, a price-to-earnings ratio of -18.16 and a beta of 1.60. The firm has a 50-day simple moving average of GBX 214.87 and a two-hundred day simple moving average of GBX 134.36. The company has a current ratio of 6.48, a quick ratio of 12.18 and a debt-to-equity ratio of 1.54.

Ceres Power (LON:CWR) last announced 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 net margin of 101.69% and a negative return on equity of 22.96%. As a group, analysts predict 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.