Ceres Power (LON:CWR) Shares Up 15.1% - Time to Buy?

Key Points

• Ceres Power's shares surged 15.1%, trading between GBX 192 ($2.59) and GBX 190 ($2.56), with a notable increase in trading volume of 140% compared to average daily volume.
• The company reported earnings of GBX (10.14) per share with a negative net margin of 101.69% and a negative return on equity of 22.96%, indicating ongoing financial challenges.
• Ceres Power is recognized for its clean energy technologies, particularly in green hydrogen production and fuel cells, establishing partnerships with major firms such as Bosch and Doosan to enhance its reach in the energy sector.

Shares of Ceres Power Holdings plc (LON:CWR - Get Free Report) shot up 15.1% on Saturday . The company traded as high as GBX 192 ($2.59) and last traded at GBX 190 ($2.56). 4,376,311 shares changed hands during mid-day trading, an increase of 140% from the average session volume of 1,824,499 shares. The stock had previously closed at GBX 165.10 ($2.23).

Ceres Power Stock Performance

The business has a fifty day simple moving average of GBX 121.61 and a two-hundred day simple moving average of GBX 90.09. The company has a quick ratio of 12.18, a current ratio of 6.48 and a debt-to-equity ratio of 1.54. The company has a market cap of £368.26 million, a P/E ratio of -1,297.81 and a beta of 1.60.

Ceres Power (LON:CWR - Get Free Report) last posted its earnings results on Friday, September 26th. The company reported GBX (10.14) earnings per share for the quarter. Ceres Power had a negative net margin of 101.69% and a negative return on equity of 22.96%. On average, sell-side analysts anticipate that Ceres Power Holdings plc will post -12.4426979 EPS for the current 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.

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