Ceres Power (LON:CWR) Trading 14.5% Higher - Should You Buy?

Key Points

• Ceres Power's stock price surged 14.5% to GBX 115 ($1.57) with a significant trading volume increase of 752% compared to its average.
• The company has a robust financial position, evidenced by a current ratio of 6.48 and a quick ratio of 12.18, though it currently has a P/E ratio of -785.52.
• Ceres Power is recognized for its clean energy technology, focusing on green hydrogen production and efficient fuel cells, with established partnerships with major global companies.

Ceres Power Holdings plc (LON:CWR - Get Free Report)'s share price was up 14.5% during mid-day trading on Wednesday . The company 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 mid-day 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 Price Performance

The firm's 50 day moving average price is GBX 111.38 and its two-hundred day moving average price is GBX 84.06. 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 has a market cap of £280.65 million, a PE ratio of -989.07 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.