Ceres Power (LON:CWR) Trading Up 15.1% - Here's What Happened

Key Points

• Ceres Power shares rose by 15.1% on Saturday, trading at GBX 190 ($2.56) after increasing significantly from its previous close of GBX 165.10 ($2.23).
• The company reported a negative earnings per share (EPS) of GBX (10.14) during its latest quarterly earnings, with analysts projecting an average EPS of -12.44 for the current fiscal year.
• Ceres Power focuses on clean energy technology, including electrolysis for green hydrogen production and fuel cells, partnering with major firms like Bosch and Doosan to decarbonize industries.

Ceres Power Holdings plc (LON:CWR - Get Free Report)'s share price was up 15.1% during trading on Saturday . The company traded as high as GBX 192 ($2.59) and last traded at GBX 190 ($2.56). Approximately 4,376,311 shares were traded during mid-day trading, an increase of 140% from the average daily volume of 1,824,499 shares. The stock had previously closed at GBX 165.10 ($2.23).

Ceres Power Stock Performance

The firm's 50-day simple moving average is GBX 121.61 and its two-hundred day simple moving average is GBX 90.09. The company has a current ratio of 6.48, a quick ratio of 12.18 and a debt-to-equity ratio of 1.54. The stock has a market capitalization of £368.26 million, a PE ratio of -1,297.81 and a beta of 1.60.

Ceres Power (LON:CWR - Get Free Report) last announced its quarterly earnings data on Friday, September 26th. The company reported GBX (10.14) EPS for the quarter. Ceres Power had a negative return on equity of 22.96% and a negative net margin of 101.69%. On average, equities research analysts expect 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.