Ceres Power (LON:CWR) Trading Up 17.5% - Here's Why

Key Points

• Ceres Power Holdings plc's shares surged 17.5%, reaching a high of GBX 139 ($1.89) during trading.
• The stock saw significant trading volume, with approximately 4.6 million shares changing hands, a 211% increase from the average daily volume.
• Ceres Power specializes in clean energy technology, focusing on green hydrogen production and fuel cells, collaborating with major companies like Bosch and Doosan.

Ceres Power Holdings plc (LON:CWR - Get Free Report)'s share price traded up 17.5% during mid-day trading on Thursday . The company traded as high as GBX 139 ($1.87) and last traded at GBX 134.50 ($1.81). 4,604,260 shares were traded 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 ($1.54).

Ceres Power Stock Performance

The stock has a market capitalization of £280.65 million, a P/E ratio of -989.07 and a beta of 1.60. The company's 50-day moving average is GBX 111.38 and its two-hundred day moving average is GBX 84.34. The company has a current ratio of 6.48, a quick ratio of 12.18 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.