Ceres Power (LON:CWR) Trading Down 6.1% - Here's Why

Key Points

• Ceres Power Holdings plc experienced a significant decline of 6.1% in trading, with shares dropping to GBX 110.80 ($1.50) from a previous close of GBX 118 ($1.60).
• The company, known for its clean energy technology, has a high P/E ratio of -737.02 and a market capitalization of £209.12 million, indicating potential volatility.
• Ceres Power has established partnerships with major companies like Bosch and Doosan to enhance the production of green hydrogen and support decarbonization efforts in various industries.

Ceres Power Holdings plc (LON:CWR - Get Free Report) was down 6.1% during mid-day trading on Tuesday . The stock traded as low as GBX 110.30 ($1.49) and last traded at GBX 110.80 ($1.50). Approximately 860,362 shares were traded during mid-day trading, a decline of 42% from the average daily volume of 1,488,002 shares. The stock had previously closed at GBX 118 ($1.59).

Ceres Power Stock Up 1.1%

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 has a market cap of £199.43 million, a price-to-earnings ratio of -702.87 and a beta of 1.60. The firm's 50 day simple moving average is GBX 108.20 and its 200-day simple moving average is GBX 81.48.

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.