Ceres Power (LON:CWR) Trading 17.5% Higher - Here's What Happened

Key Points

• Ceres Power's stock surged by 17.5% during mid-day trading, reaching a high of GBX 139 ($1.88) before closing at GBX 134.50 ($1.82).
• The trading volume saw a dramatic increase, with approximately 4.6 million shares changing hands, which is 211% higher than the average daily volume.
• Ceres Power focuses on clean energy technology, particularly in electrolysis for green hydrogen and fuel cells, establishing partnerships with major companies like Bosch and Doosan.

Ceres Power Holdings plc (LON:CWR - )'s stock price rose 17.5% during mid-day trading on Thursday . The stock traded as high as GBX 139 ($1.88) and last traded at GBX 134.50 ($1.82). Approximately 4,604,260 shares traded hands during mid-day trading, an increase of 211% from the average daily volume of 1,479,998 shares. The stock had previously closed at GBX 114.50 ($1.55).

Ceres Power Price Performance

The firm's 50-day moving average is GBX 109.91 and its 200-day moving average is GBX 83.08. The company has a market capitalization of £260.69 million, a PE ratio of -918.72 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.

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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