Ceres Power (LON:CWR) Stock Price Up 17.5% - Still a Buy?

Key Points

• Ceres Power's stock price surged by 17.5% on Friday, reaching a last traded price of GBX 134.50 ($1.82), significantly up from its previous closing price of GBX 114.50 ($1.55).
• The trading volume increased to approximately 4.6 million shares, which is a 211% rise from the average daily volume, indicating heightened investor interest.
• Ceres Power is recognized for its clean energy innovations, particularly in green hydrogen production and fuel cells, having established partnerships with major corporations like Bosch and Doosan.

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

Ceres Power Stock Up 7.7%

The stock has a market cap of £280.65 million, a P/E ratio of -989.07 and a beta of 1.60. 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 business has a 50-day simple moving average of GBX 111.38 and a 200-day simple moving average of GBX 84.06.

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.