Ceres Power (LON:CWR) Shares Down 12% – Here’s What Happened

Ceres Power Holdings plc (LON:CWR)’s stock price dropped 12% during trading on Tuesday . The stock traded as low as GBX 230 and last traded at GBX 234.20. Approximately 3,846,493 shares were traded during mid-day trading, an increase of 46% from the average daily volume of 2,643,635 shares. The stock had previously closed at GBX 266.20.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on CWR shares. Berenberg Bank lifted their price target on shares of Ceres Power from GBX 300 to GBX 530 and gave the stock a “buy” rating in a research report on Wednesday, November 19th. Jefferies Financial Group reaffirmed a “buy” rating and set a GBX 460 price objective on shares of Ceres Power in a research note on Friday, November 7th. Two investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Ceres Power has a consensus rating of “Buy” and an average price target of GBX 495.

Ceres Power Stock Performance

The stock’s 50 day moving average is GBX 302.73 and its two-hundred day moving average is GBX 177.35. The stock has a market capitalization of £455.93 million, a price-to-earnings ratio of -12.83 and a beta of 1.60. The company has a current ratio of 6.48, a quick ratio of 12.18 and a debt-to-equity ratio of 1.54.

Ceres Power (LON:CWR) last released its 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%. Analysts expect that Ceres Power Holdings plc will post -12.4426979 earnings per share for the current fiscal year.

About Ceres Power

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.