Ceres Power (LON:CWR) Trading 14.5% Higher – Here’s Why

Ceres Power Holdings plc (LON:CWR)’s stock price was up 14.5% during trading on Friday . The company traded as high as GBX 192 ($2.59) and last traded at GBX 189 ($2.55). Approximately 81,542,156 shares traded hands during mid-day trading, an increase of 3,563% from the average daily volume of 2,226,405 shares. The stock had previously closed at GBX 165.10 ($2.23).

Ceres Power Trading Up 15.1%

The stock has a market capitalization of £368.51 million, a P/E ratio of -1,041.10 and a beta of 1.60. The firm’s 50 day simple moving average is GBX 121.61 and its two-hundred day simple moving average is GBX 90.20. The company has a quick ratio of 12.18, a current ratio of 6.48 and a debt-to-equity ratio of 1.54.

Ceres Power (LON:CWR) last issued its earnings results on Friday, September 26th. The company reported GBX (10.14) earnings per share for the quarter. Ceres Power had a negative return on equity of 22.96% and a negative net margin of 101.69%. As a group, analysts forecast 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.