Ceres Power (LON:CWR) Trading Up 20.7% - Here's What Happened

Key Points

• Ceres Power Holdings plc's share price surged by 20.7%, reaching GBX 258.60 ($3.47), with trading volume up by 3,515% compared to its average daily volume.
• The company reported a negative earnings per share (EPS) of GBX (10.14) and forecasts an annual EPS of -12.44 for the current year.
• Ceres Power specializes in clean energy technology, focusing on green hydrogen production and fuel cells, partnering with major companies like Bosch and Doosan to decarbonize emissions-intensive industries.

Ceres Power Holdings plc (LON:CWR - Get Free Report)'s stock price was up 20.7% during mid-day trading on Wednesday . The company traded as high as GBX 258.80 ($3.47) and last traded at GBX 258.60 ($3.47). Approximately 80,881,109 shares traded hands during mid-day trading, an increase of 3,515% from the average daily volume of 2,237,261 shares. The stock had previously closed at GBX 214.20 ($2.87).

Ceres Power Stock Performance

The firm has a market cap of £501.57 million, a price-to-earnings ratio of -1,416.99 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. The stock has a fifty day moving average price of GBX 135.86 and a 200-day moving average price of GBX 98.33.

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