Ceres Power (LON:CWR) Shares Up 14.5% - Time to Buy?

Key Points

• Ceres Power Holdings plc shares surged 14.5% in mid-day trading, reaching highs of GBX 116.20 ($1.58) after a substantial increase in trading volume of 752% compared to the daily average.
• The company has a market cap of £222.90 million, with a heavily negative P/E ratio of -785.52, indicating that it is not currently profitable.
• Ceres Power focuses on developing clean energy technology, particularly in electrolysis for green hydrogen production and fuel cells, partnering with major firms like Bosch and Doosan.

Shares of Ceres Power Holdings plc (LON:CWR - Get Free Report) rose 14.5% during trading on Wednesday . The stock traded as high as GBX 116.20 ($1.57) and last traded at GBX 115 ($1.55). Approximately 13,008,398 shares were traded during trading, an increase of 752% from the average daily volume of 1,527,380 shares. The stock had previously closed at GBX 100.40 ($1.35).

Ceres Power Stock Up 7.7%

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 firm's 50-day moving average is GBX 111.38 and its 200 day moving average is GBX 84.06. The stock has a market cap of £280.65 million, a price-to-earnings ratio of -989.07 and a beta of 1.60.

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.