Ceres Power (LON:CWR) Stock Price Down 10.4% – Should You Sell?

Shares of Ceres Power Holdings plc (LON:CWR) dropped 10.4% during mid-day trading on Saturday . The company traded as low as GBX 321.80 and last traded at GBX 332.51. Approximately 59,830,457 shares traded hands during mid-day trading, an increase of 2,484% from the average daily volume of 2,315,036 shares. The stock had previously closed at GBX 371.

Analyst Upgrades and Downgrades

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 analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of GBX 400.

Ceres Power Stock Performance

The firm has a market capitalization of £646.46 million, a PE ratio of -18.22 and a beta of 1.60. 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 stock has a 50-day moving average price of GBX 219.46 and a 200-day moving average price of GBX 136.26.

Ceres Power (LON:CWR) last issued 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, research analysts expect that Ceres Power Holdings plc will post -12.4426979 EPS 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.