Ceres Power (LON:CWR) Trading Down 12% – What’s Next?

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

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on CWR. Berenberg Bank increased their price objective on shares of Ceres Power from GBX 300 to GBX 530 and gave the company a “buy” rating in a report on Wednesday, November 19th. Jefferies Financial Group reaffirmed a “buy” rating and set a GBX 460 price target on shares of Ceres Power in a research note on Friday, November 7th. Two analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of GBX 495.

Ceres Power Stock Performance

The stock has a fifty day moving average price of GBX 302.73 and a 200-day moving average price of GBX 177.35. The company has a current ratio of 6.48, a quick ratio of 12.18 and a debt-to-equity ratio of 1.54. The firm has a market capitalization of £443.47 million, a price-to-earnings ratio of -12.48 and a beta of 1.60.

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 anticipate that Ceres Power Holdings plc will post -12.4426979 earnings per share for the current fiscal 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.