Ceres Power (LON:CWR) Trading Down 9.5% – Should You Sell?

Ceres Power Holdings plc (LON:CWR)’s share price fell 9.5% during mid-day trading on Friday . The company 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 Analyst Weigh In

Separately, Jefferies Financial Group reiterated a “buy” rating and set a GBX 460 price target on shares of Ceres Power in a research note on Friday, November 7th. Two investment 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 target price of GBX 400.

Ceres Power Stock Down 10.7%

The business has a 50-day moving average price of GBX 214.87 and a 200-day moving average price of GBX 134.36. The stock has a market cap of £644.30 million, a PE ratio of -18.16 and a beta of 1.60. The company has a current ratio of 6.48, a quick ratio of 12.18 and a debt-to-equity ratio of 1.54.

Ceres Power (LON:CWR) last posted its quarterly earnings data on Friday, September 26th. The company reported GBX (10.14) earnings per share 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, analysts forecast 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.