Ceres Power (LON:CWR) Stock Price Up 17.5% - Time to Buy?

Key Points

• Ceres Power's stock surged by 17.5% in mid-day trading, reaching a high of GBX 139 ($1.89) and closing at GBX 134.50 ($1.83) after previously closing at GBX 114.50 ($1.56).
• Trading volume increased significantly, with approximately 4.6 million shares traded, marking a 211% rise from its average daily volume.
• Ceres Power is a key player in the clean energy sector, focusing on electrolysis for green hydrogen and fuel cell technology, partnering with major companies like Bosch and Doosan.

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

Ceres Power Trading Up 7.7%

The company has a 50-day simple moving average of GBX 111.38 and a 200-day simple moving average of GBX 84.06. 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 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.