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

by · The Markets Daily

Ceres Power Holdings plc (LON:CWR – Get Free Report) shares dropped 10.4% during trading on Saturday . The stock traded as low as GBX 321.80 and last traded at GBX 332.51. Approximately 59,830,457 shares changed hands 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 reissued a “buy” rating and set a GBX 460 price target on shares of Ceres Power in a research report on Friday, November 7th. Two equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of GBX 400.

View Our Latest Stock Report on Ceres Power

Ceres Power Stock Performance

The business has a 50-day moving average of GBX 219.46 and a two-hundred day moving average of GBX 136.26. The company has a debt-to-equity ratio of 1.54, a current ratio of 6.48 and a quick ratio of 12.18. The company has a market cap of £646.46 million, a P/E ratio of -18.22 and a beta of 1.60.

Ceres Power (LON:CWR – Get Free Report) 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 predict that Ceres Power Holdings plc will post -12.4426979 EPS for the current fiscal year.

About Ceres Power

(Get Free Report)

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.

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