Ceres Power (LON:CWR) Trading Down 14.8% – What’s Next?

Shares of Ceres Power Holdings plc (LON:CWR) fell 14.8% during trading on Saturday . The company traded as low as GBX 307.53 and last traded at GBX 313.46. 6,301,889 shares changed hands during mid-day trading, an increase of 171% from the average session volume of 2,325,161 shares. The stock had previously closed at GBX 368.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on CWR shares. Jefferies Financial Group restated a “buy” rating and set a GBX 460 target price on shares of Ceres Power in a report on Friday, November 7th. Berenberg Bank raised their price objective on Ceres Power from GBX 300 to GBX 530 and gave the company a “buy” rating in a research report on Wednesday. Two analysts have rated the stock with a Buy rating, According to MarketBeat.com, Ceres Power has a consensus rating of “Buy” and an average target price of GBX 495.

Ceres Power Stock Down 14.8%

The firm’s 50 day moving average price is GBX 244.49 and its two-hundred day moving average price is GBX 146.45. The firm has a market capitalization of £609.42 million, a PE ratio of -17.18 and a beta of 1.60. 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 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%. As a group, research 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.