Ceres Power (LON:CWR) Shares Up 17.5% - What's Next?

Key Points

• Ceres Power's shares surged 17.5% during mid-day trading, reaching a high of GBX 139 ($1.88) after opening at GBX 114.50 ($1.55).
• The company has a market capitalization of £260.69 million and a significantly high price-to-earnings ratio of -918.72.
• Ceres Power is recognized for its clean energy technology, focusing on green hydrogen production and partnerships with major companies like Bosch and Doosan.

Ceres Power Holdings plc (LON:CWR - Get Free Report) shares were up 17.5% on Thursday . The company traded as high as GBX 139 ($1.87) and last traded at GBX 134.50 ($1.81). Approximately 4,604,260 shares changed hands during mid-day trading, an increase of 211% from the average daily volume of 1,479,998 shares. The stock had previously closed at GBX 114.50 ($1.54).

Ceres Power Stock Performance

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's 50 day simple moving average is GBX 111.38 and its two-hundred day simple moving average is GBX 84.06. The stock has a market cap of £280.65 million, a P/E 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.