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

Key Points

• Ceres Power Holdings plc shares surged by 15.1% during trading, reaching a high of GBX 192 ($2.59) and a last traded value of GBX 190 ($2.56).
• The company reported a negative earnings per share of GBX (10.14) for the quarter, with an expected EPS of -12.44 for the current year.
• Ceres Power specializes in clean energy technology and has partnerships with major corporations such as Bosch and Doosan, focusing on green hydrogen production and fuel cells.

Ceres Power Holdings plc (LON:CWR - Get Free Report) rose 15.1% during mid-day trading on Saturday . The company traded as high as GBX 192 ($2.59) and last traded at GBX 190 ($2.56). Approximately 4,376,311 shares were traded during 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 stock's fifty day simple moving average is GBX 121.61 and its two-hundred day simple moving average is GBX 90.09. The company has a debt-to-equity ratio of 1.54, a quick ratio of 12.18 and a current ratio of 6.48. The company has a market cap of £368.26 million, a price-to-earnings ratio of -1,297.81 and a beta of 1.60.

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