Ceres Power (LON:CWR) Shares Down 12% – Here’s Why

Shares of Ceres Power Holdings plc (LON:CWR) fell 12% during trading on Tuesday . The stock traded as low as GBX 230 and last traded at GBX 234.20. 3,846,493 shares were traded during mid-day trading, an increase of 46% from the average session volume of 2,643,635 shares. The stock had previously closed at GBX 266.20.

Wall Street Analyst Weigh In

CWR has been the subject of a number of research reports. Jefferies Financial Group restated a “buy” rating and set a GBX 460 target price on shares of Ceres Power in a research report on Friday, November 7th. Berenberg Bank boosted their price target on shares of Ceres Power from GBX 300 to GBX 530 and gave the stock a “buy” rating in a research note on Wednesday, November 19th. Two equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of GBX 495.

Ceres Power Stock Down 12.0%

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 has a market capitalization of £455.93 million, a PE ratio of -12.83 and a beta of 1.60. The company has a fifty day moving average price of GBX 302.73 and a 200-day moving average price of GBX 177.35.

Ceres Power (LON:CWR) last announced its quarterly earnings results 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 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.