Ceres Power (LON:CWR) Trading 19.8% Higher - Here's What Happened

Key Points

• Ceres Power's stock surged by 19.8% during trading, reaching a high of GBX 258.80 ($3.45) and closing at GBX 256.60 ($3.42), with trading volume increasing by 3,480% compared to its average.
• The company reported a negative earnings per share of GBX (10.14) and is projected to have an EPS of -12.44 for the current fiscal year, indicating ongoing financial challenges.
• Ceres Power is a key player in the clean energy sector, specializing in green hydrogen and fuel cell technology, and has established significant partnerships with major global companies such as Bosch and Doosan.

Ceres Power Holdings plc (LON:CWR - Get Free Report)'s stock price traded up 19.8% during trading on Wednesday . The company traded as high as GBX 258.80 ($3.45) and last traded at GBX 256.60 ($3.42). 79,911,141 shares changed hands during mid-day trading, an increase of 3,480% from the average session volume of 2,232,411 shares. The stock had previously closed at GBX 214.20 ($2.85).

Ceres Power Stock Performance

The stock has a 50-day simple moving average of GBX 133.01 and a 200-day simple moving average of GBX 97.21. The company has a debt-to-equity ratio of 1.54, a current ratio of 6.48 and a quick ratio of 12.18. The stock has a market cap of £501.57 million, a PE 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 for the quarter. Ceres Power had a negative return on equity of 22.96% and a negative net margin of 101.69%. Equities analysts predict that Ceres Power Holdings plc will post -12.4426979 earnings per share for the current fiscal year.

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.

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