Ceres Power (LON:CWR) Trading Up 46.6% - Still a Buy?

Key Points

• Ceres Power Holdings plc shares surged by 46.6%, trading as high as GBX 150 ($2.02) amid a substantial increase in trading volume.
• The company focuses on clean energy technology, offering electrolysis for green hydrogen and fuel cells, establishing partnerships with major companies like Bosch and Doosan.
• Despite its recent share price increase, Ceres Power has a negative PE ratio of -7.01 and a debt-to-equity ratio of 1.54, indicating potential financial concerns.

Ceres Power Holdings plc (LON:CWR - Get Free Report) shares rose 46.6% on Monday . The stock traded as high as GBX 150 ($1.99) and last traded at GBX 147.50 ($1.96). Approximately 9,894,884 shares were traded during mid-day trading, an increase of 527% from the average daily volume of 1,578,516 shares. The stock had previously closed at GBX 100.60 ($1.33).

Ceres Power Price Performance

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 company's 50-day moving average price is GBX 88.49 and its two-hundred day moving average price is GBX 88.61. The company has a market capitalization of £244.35 million, a P/E ratio of -6.06 and a beta of 1.60.

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.