Ceres Power (LON:CWR) Stock Price Down 8.9% - Here's What Happened

Key Points

• Ceres Power Holdings plc shares dropped 8.9% on Wednesday, trading as low as GBX 130 ($1.74), with a volume increase of 116% from the average daily volume.
• The company has a market capitalization of £248.55 million and a price-to-earnings ratio of -6.17, indicating negative earnings.
• Ceres Power specializes in clean energy technology, focusing on electrolysis for green hydrogen production and fuel cells for power generation, with partnerships with major companies like Bosch and Doosan.

Ceres Power Holdings plc (LON:CWR - Get Free Report)'s stock price fell 8.9% on Wednesday . The stock traded as low as GBX 130 ($1.73) and last traded at GBX 131.30 ($1.74). 3,407,219 shares traded hands during trading, an increase of 116% from the average session volume of 1,578,114 shares. The stock had previously closed at GBX 144.10 ($1.91).

Ceres Power Stock Performance

The firm has a market capitalization of £228.44 million, a P/E ratio of -5.67 and a beta of 1.60. 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 firm has a 50-day moving average price of GBX 90.68 and a two-hundred day moving average price of GBX 88.02.

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.