Ceres Power (LON:CWR) Trading Down 10.4% – Here’s Why

Ceres Power Holdings plc (LON:CWR)’s share price traded down 10.4% during trading on Friday . The stock traded as low as GBX 321.80 and last traded at GBX 332.51. 59,830,457 shares traded hands during trading, an increase of 2,484% from the average session volume of 2,315,036 shares. The stock had previously closed at GBX 371.

Wall Street Analysts Forecast Growth

Separately, Jefferies Financial Group reiterated a “buy” rating and issued a GBX 460 target price 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, the company has a consensus rating of “Buy” and a consensus price target of GBX 400.

Ceres Power Stock Down 10.4%

The business has a 50 day moving average of GBX 214.87 and a two-hundred day moving average of GBX 134.36. The stock has a market capitalization of £646.46 million, a PE ratio of -18.22 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 posted its quarterly earnings results on Friday, September 26th. The company reported GBX (10.14) earnings per share (EPS) for the quarter. Ceres Power had a negative return on equity of 22.96% and a negative net margin of 101.69%. Analysts predict that Ceres Power Holdings plc will post -12.4426979 EPS 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.