Ceres Power (LON:CWR) Trading 29.6% Higher - Time to Buy?

Key Points

• Ceres Power's share price surged by 29.6% during trading, reaching high values of GBX 132.01 ($1.77) and closing at GBX 130.40 ($1.75).
• The company has a market cap of £256.91 million and a PE ratio of -6.37, indicating significant financial activity despite negative earnings.
• Ceres Power specializes in clean energy technologies such as green hydrogen electrolysis and fuel cells, partnering with major firms like Bosch and Doosan to enhance energy system electrification.

Ceres Power Holdings plc (LON:CWR - Get Free Report) shares shot up 29.6% on Monday . The stock traded as high as GBX 132.01 ($1.75) and last traded at GBX 130.40 ($1.73). 6,225,217 shares traded hands during trading, an increase of 301% from the average session volume of 1,553,032 shares. The stock had previously closed at GBX 100.60 ($1.33).

Ceres Power Stock Performance

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 firm's 50-day moving average is GBX 88.49 and its two-hundred day moving average is GBX 88.61. The stock has a market cap of £244.35 million, a price-to-earnings ratio of -6.06 and a beta of 1.60.

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.