Ceres Power (LON:CWR) Stock Price Down 11.4% – Time to Sell?

Ceres Power Holdings plc (LON:CWR) shares were down 11.4% during mid-day trading on Friday . The company traded as low as GBX 321.80 and last traded at GBX 328.62. Approximately 7,971,311 shares traded hands during mid-day trading, an increase of 283% from the average daily volume of 2,081,436 shares. The stock had previously closed at GBX 371.

Wall Street Analysts Forecast Growth

Separately, 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 research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of GBX 400.

Ceres Power Stock Performance

The company’s 50 day moving average price is GBX 214.87 and its 200-day moving average price is GBX 134.36. The stock has a market cap of £644.30 million, a P/E ratio of -18.16 and a beta of 1.60. The company has a debt-to-equity ratio of 1.54, a quick ratio of 12.18 and a current ratio of 6.48.

Ceres Power (LON:CWR) last released 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%. Equities analysts forecast that Ceres Power Holdings plc will post -12.4426979 EPS for the current fiscal 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.