Ceres Power (LON:CWR) Stock Price Down 10.6% – Here’s What Happened

Ceres Power Holdings plc (LON:CWR)’s stock price fell 10.6% during mid-day trading on Thursday . The stock traded as low as GBX 498.01 and last traded at GBX 509. 22,468,348 shares were traded during mid-day trading, an increase of 161% from the average daily volume of 8,615,017 shares. The stock had previously closed at GBX 569.50.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on CWR shares. Berenberg Bank increased their target price on Ceres Power from GBX 530 to GBX 980 and gave the company a “buy” rating in a research note on Friday, May 29th. Jefferies Financial Group restated a “buy” rating and set a GBX 920 target price on shares of Ceres Power in a research report on Wednesday, June 10th. Two research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Ceres Power presently has an average rating of “Buy” and a consensus target price of GBX 950.

Ceres Power Stock Performance

The firm has a market cap of £996.54 million, a P/E ratio of -20.76 and a beta of 3.24. The company has a debt-to-equity ratio of 2.24, a quick ratio of 12.18 and a current ratio of 3.27. The stock’s 50-day moving average is GBX 635.67 and its 200 day moving average is GBX 413.31.

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 return on equity of 39.26% and a negative net margin of 145.65%. On average, research analysts predict that Ceres Power Holdings plc will post -12.4426979 earnings per share for the current year.

Insider Buying and Selling

In other Ceres Power 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 value of £2,842,166.80. Company insiders own 7.94% of the company’s stock.

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.