Ceres Power (LON:CWR) Stock Price Up 17.5% - Should You Buy?

Key Points

• Ceres Power's share price increased by 17.5% on Thursday, reaching a high of GBX 139 ($1.88) before closing at GBX 134.50 ($1.82).
• During mid-day trading, approximately 4.6 million shares were exchanged, representing a 211% increase from the average daily volume of 1.48 million shares.
• The company focuses on clean energy technology, with partnerships involving major firms like Bosch and Doosan, and aims to decarbonize emissions-intensive industries.

Shares of Ceres Power Holdings plc (LON:CWR - Get Free Report) traded up 17.5% 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 mid-day 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 Price Performance

The firm has a market capitalization of £280.65 million, a price-to-earnings ratio of -989.07 and a beta of 1.60. The company has a fifty day moving average price of GBX 111.38 and a two-hundred day moving average price of GBX 84.06. The company has a quick ratio of 12.18, a current ratio of 6.48 and a debt-to-equity ratio of 1.54.

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.