Ceres Power (LON:CWR) Stock Price Up 20.7% - Here's Why

Key Points

• Ceres Power's stock price surged by 20.7% during mid-day trading, reaching GBX 258.60 ($3.47), significantly up from its previous close of GBX 214.20 ($2.87).
• The company's quarterly earnings report revealed a negative earnings per share of GBX (10.14) and is projected to post an EPS of -12.44 for the current fiscal year.
• Ceres Power is recognized for its innovative work in clean energy technology, specifically in green hydrogen production and fuel cell development, partnering with major companies like Bosch and Doosan.

Shares of Ceres Power Holdings plc (LON:CWR - Get Free Report) were up 20.7% during trading on Wednesday . The company traded as high as GBX 258.80 ($3.47) and last traded at GBX 258.60 ($3.47). Approximately 80,881,109 shares were traded during trading, an increase of 3,515% from the average daily volume of 2,237,261 shares. The stock had previously closed at GBX 214.20 ($2.87).

Ceres Power Price Performance

The firm has a fifty day moving average price of GBX 135.86 and a two-hundred day moving average price of GBX 98.33. 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 capitalization of £501.57 million, a P/E ratio of -1,416.99 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) earnings per share (EPS) 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, analysts expect that Ceres Power Holdings plc will post -12.4426979 EPS for the current fiscal year.

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.

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