Ceres Power (LON:CWR) Shares Up 17.5% - Should You Buy?

Key Points

• Ceres Power Holdings plc experienced a significant share price increase of 17.5%, trading at GBX 134.50 ($1.83) after opening higher during mid-day trading.
• The company has a market capitalization of £260.69 million and a notably high P/E ratio of -918.72, indicating a focus on growth rather than profitability at this time.
• Ceres Power is recognized for its development of clean energy technology, including electrolysis for green hydrogen and fuel cells, and has established partnerships with major corporations like Bosch and Doosan.

Ceres Power Holdings plc (LON:CWR - Get Free Report)'s share price shot up 17.5% on Thursday . The company traded as high as GBX 139 ($1.88) and last traded at GBX 134.50 ($1.82). 4,604,260 shares traded hands during mid-day trading, an increase of 211% from the average session volume of 1,479,998 shares. The stock had previously closed at GBX 114.50 ($1.55).

Ceres Power Stock Up 7.7%

The stock has a fifty day moving average of GBX 110.50 and a two-hundred day moving average of GBX 83.52. The stock has a market cap of £280.65 million, a price-to-earnings ratio of -989.07 and a beta of 1.60. The company has a quick ratio of 12.18, a current ratio of 6.48 and a debt-to-equity ratio of 1.54.

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.