Ceres Power (LON:CWR) Stock Price Up 43.2% - Here's Why

Key Points

• Ceres Power's stock price surged 43.2% during trading, reaching a high of GBX 150 ($2.00) before closing at GBX 144.10 ($1.93).
• The trading volume was significantly high, with approximately 8 million shares changing hands, an increase of 412% compared to its average daily volume.
• The company specializes in clean energy technology, including electrolysis for green hydrogen production and partnerships with major firms like Bosch and Doosan.

Ceres Power Holdings plc (LON:CWR - ) was up 43.2% during mid-day trading on Monday . The company traded as high as GBX 150 ($2.00) and last traded at GBX 144.10 ($1.93). Approximately 8,007,922 shares traded hands during trading, an increase of 412% from the average daily volume of 1,565,412 shares. The stock had previously closed at GBX 100.60 ($1.34).

Ceres Power Trading Up 43.2%

The company has a market cap of £280.90 million, a price-to-earnings ratio of -6.97 and a beta of 1.60. The business's 50 day moving average price is GBX 86.26 and its 200-day moving average price is GBX 88.07. The company has a current ratio of 6.48, a quick ratio of 12.18 and a debt-to-equity ratio of 1.54.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.