Ceres Power (LON:CWR) Stock Price Up 15.1% - Here's What Happened

Key Points

• Ceres Power's stock price increased by 15.1%, reaching as high as GBX 192 ($2.59) during trading, up from the previous close of GBX 165.10 ($2.23).
• The company reported a quarterly loss of GBX (10.14) in earnings per share, with analysts predicting a full-year earnings per share of -12.44.
• Ceres Power is recognized for its innovative work in clean energy technology, particularly in green hydrogen and fuel cells, partnering with major firms such as Bosch and Doosan.

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

Ceres Power Stock Performance

The business's fifty day simple moving average is GBX 121.61 and its 200-day simple moving average is GBX 90.09. The firm has a market cap of £368.26 million, a P/E ratio of -1,297.81 and a beta of 1.60. The company has a current ratio of 6.48, a quick ratio of 12.18 and a debt-to-equity ratio of 1.54.

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 return on equity of 22.96% and a negative net margin of 101.69%. As a group, sell-side analysts expect that Ceres Power Holdings plc will post -12.4426979 earnings per share for the current year.

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.

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