Ceres Power (LON:CWR) Trading Down 12% – Here’s Why

Shares of Ceres Power Holdings plc (LON:CWR) fell 12% during mid-day trading on Tuesday . The company traded as low as GBX 230 and last traded at GBX 234.20. 3,846,493 shares changed hands during mid-day trading, an increase of 46% from the average session volume of 2,643,635 shares. The stock had previously closed at GBX 266.20.

Analyst Ratings Changes

CWR has been the subject of several research analyst reports. Berenberg Bank lifted their price objective on Ceres Power from GBX 300 to GBX 530 and gave the stock a “buy” rating in a report on Wednesday, November 19th. 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 equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Ceres Power has a consensus rating of “Buy” and a consensus target price of GBX 495.

Ceres Power Stock Up 0.7%

The company has a quick ratio of 12.18, a current ratio of 6.48 and a debt-to-equity ratio of 1.54. The company has a fifty day simple moving average of GBX 303.43 and a 200-day simple moving average of GBX 177.96. The firm has a market cap of £431.40 million, a P/E ratio of -12.14 and a beta of 1.60.

Ceres Power (LON:CWR) last posted its quarterly earnings data 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 analysts anticipate that Ceres Power Holdings plc will post -12.4426979 earnings per share for the current 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.