Ceres Power (LON:CWR) Trading Down 9.5% – Here’s What Happened

Ceres Power Holdings plc (LON:CWR) shares fell 9.5% during mid-day trading on Friday . The stock traded as low as GBX 328.60 and last traded at GBX 335.80. 6,680,946 shares traded hands during trading, an increase of 222% from the average session volume of 2,075,624 shares. The stock had previously closed at GBX 371.

Wall Street Analysts Forecast Growth

Separately, Jefferies Financial Group reissued a “buy” rating and issued a GBX 460 target price on shares of Ceres Power in a research note on Friday, November 7th. Two research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of GBX 400.

Ceres Power Stock Down 10.7%

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 company has a quick ratio of 12.18, a current ratio of 6.48 and a debt-to-equity ratio of 1.54. The firm has a 50 day moving average price of GBX 214.87 and a two-hundred day moving average price of GBX 134.36.

Ceres Power (LON:CWR) last issued its quarterly earnings results on Friday, September 26th. The company reported GBX (10.14) EPS 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, sell-side analysts expect that Ceres Power Holdings plc will post -12.4426979 earnings per share for the current 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.