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

Shares of Ceres Power Holdings plc (LON:CWR) dropped 10.4% during mid-day trading on Saturday . The stock traded as low as GBX 321.80 and last traded at GBX 332.51. Approximately 59,830,457 shares were traded during trading, an increase of 2,484% from the average daily volume of 2,315,036 shares. The stock had previously closed at GBX 371.

Wall Street Analyst Weigh In

Separately, Jefferies Financial Group restated a “buy” rating and issued a GBX 460 price target on shares of Ceres Power in a research report on Friday, November 7th. Two investment analysts have rated the stock with a Buy rating, According to MarketBeat, the stock has an average rating of “Buy” and a consensus price target of GBX 400.

Ceres Power Stock Down 10.4%

The stock has a market cap of £646.46 million, a price-to-earnings 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. The firm’s 50-day simple moving average is GBX 219.46 and its two-hundred day simple moving average is GBX 136.26.

Ceres Power (LON:CWR) last released 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%. On average, sell-side analysts expect that Ceres Power Holdings plc will post -12.4426979 EPS for the current fiscal 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.