Ceres Power (LON:CWR) Shares Up 43.2% - Still a Buy?

Key Points

• Ceres Power's stock price surged 43.2%, reaching a high of GBX 150 ($2.02) before closing at GBX 144.10 ($1.94), with trading volume increasing by 412% from the average.
• The company focuses on clean energy technologies, particularly electrolysis for green hydrogen production and fuel cells, and has established partnerships with major corporations like Bosch and Doosan.
• Ceres Power has a market capitalization of £280.90 million and currently has a negative PE ratio of -6.97, indicating potential investment caution.

Ceres Power Holdings plc (LON:CWR - Get Free Report) shares rose 43.2% during mid-day trading on Monday . The stock traded as high as GBX 150 ($1.98) and last traded at GBX 144.10 ($1.90). Approximately 8,007,922 shares changed hands during mid-day trading, an increase of 412% from the average daily volume of 1,565,412 shares. The stock had previously closed at GBX 100.60 ($1.33).

Ceres Power Price Performance

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 stock's 50-day simple moving average is GBX 89.63 and its two-hundred day simple moving average is GBX 88.33. The company has a market capitalization of £227.05 million, a price-to-earnings ratio of -5.63 and a beta of 1.60.

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.