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

Key Points

• Ceres Power's stock price surged 17.5% during trading, reaching a high of GBX 139 ($1.88) before closing at GBX 134.50 ($1.82), significantly up from its prior close of GBX 114.50 ($1.55).
• The company has formed partnerships with major corporations like Bosch and Doosan, focusing on clean energy technologies such as electrolysis for green hydrogen production and fuel cells for power generation.
• With a market capitalization of £260.69 million, Ceres Power exhibits high liquidity with a current ratio of 6.48 and a quick ratio of 12.18, despite a negative P/E ratio.

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

Ceres Power Price Performance

The company has a market cap of £284.92 million, a price-to-earnings ratio of -1,004.10 and a beta of 1.60. The company's 50 day moving average price is GBX 112.39 and its 200 day moving average price is GBX 84.93. The company has a current ratio of 6.48, a quick ratio of 12.18 and a debt-to-equity ratio of 1.54.

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.