Ceres Power (LON:CWR) Stock Price Down 14.1% – Here’s Why

Shares of Ceres Power Holdings plc (LON:CWR) traded down 14.1% during mid-day trading on Friday . The stock traded as low as GBX 312.60 and last traded at GBX 316.11. 12,789,755 shares traded hands during mid-day trading, an increase of 443% from the average session volume of 2,353,742 shares. The stock had previously closed at GBX 368.

Wall Street Analysts Forecast Growth

CWR has been the topic of a number of research reports. Jefferies Financial Group restated a “buy” rating and issued a GBX 460 price objective on shares of Ceres Power in a report on Friday, November 7th. Berenberg Bank raised their price target on shares of Ceres Power from GBX 300 to GBX 530 and gave the stock a “buy” rating in a research note on Wednesday. Two research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Ceres Power presently has an average rating of “Buy” and a consensus price target of GBX 495.

Ceres Power Stock Down 14.8%

The firm has a market capitalization of £609.42 million, a PE ratio of -17.18 and a beta of 1.60. The business’s fifty day moving average price is GBX 240.23 and its 200 day moving average price is GBX 144.70. The company has a quick ratio of 12.18, a current ratio of 6.48 and a debt-to-equity ratio of 1.54.

Ceres Power (LON:CWR) last issued its 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%. On average, equities research analysts forecast 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.