Ceres Power (LON:CWR) Trading Down 3.6% – Here’s What Happened

Ceres Power Holdings plc (LON:CWR) was down 3.6% during trading on Tuesday . The stock traded as low as GBX 802.50 and last traded at GBX 814.50. Approximately 1,803,812 shares were traded during trading, a decline of 75% from the average daily volume of 7,167,714 shares. The stock had previously closed at GBX 844.50.

Wall Street Analysts Forecast Growth

Several analysts have commented on CWR shares. Berenberg Bank lifted their price objective on shares of Ceres Power from GBX 530 to GBX 980 and gave the company a “buy” rating in a research note on Friday. Jefferies Financial Group lifted their price objective on shares of Ceres Power from GBX 480 to GBX 920 and gave the company a “buy” rating in a research note on Thursday, May 7th. Two investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock has an average rating of “Buy” and an average target price of GBX 950.

Ceres Power Stock Performance

The company has a current ratio of 3.27, a quick ratio of 12.18 and a debt-to-equity ratio of 2.24. The stock has a market capitalization of £1.59 billion, a PE ratio of -33.22 and a beta of 3.22. The firm’s fifty day moving average price is GBX 527.80 and its two-hundred day moving average price is GBX 378.91.

Ceres Power (LON:CWR) last posted its earnings results on Thursday, March 26th. The company reported GBX (24.52) earnings per share for the quarter. Ceres Power had a negative net margin of 145.65% and a negative return on equity of 39.26%. As a group, equities research analysts forecast that Ceres Power Holdings plc will post -12.4426979 EPS for the current year.

Insider Buying and Selling at Ceres Power

In other news, insider Philip Caldwell sold 456,940 shares of Ceres Power stock in a transaction that occurred on Thursday, April 30th. The shares were sold at an average price of GBX 622, for a total transaction of £2,842,166.80. 8.03% of the stock is currently owned by company insiders.

Ceres Power Company Profile

Ceres is a leading developer of clean energy technology: fuel cells for power generation and electrolysers for green hydrogen. Its asset-light, licensing model has seen it establish partnerships with some of the world’s largest companies, such as Doosan, Delta, Denso, Shell, Weichai and Thermax. Ceres’ solid oxide technology supports greater electrification of our energy systems, including AI data centres, commercial and industrial applications, and produces green hydrogen at high efficiencies as a route to decarbonise emissions-intensive industries such as ammonia, steelmaking and electrofuels.