Ceres Power (LON:CWR) Trading Up 22.2% – Here’s Why

Shares of Ceres Power Holdings plc (LON:CWR) were up 22.2% during trading on Wednesday . The company traded as high as GBX 390.25 and last traded at GBX 382.20. Approximately 23,171,760 shares changed hands during mid-day trading, an increase of 1,038% from the average daily volume of 2,036,396 shares. The stock had previously closed at GBX 312.80.

Ceres Power Stock Performance

The stock has a 50-day moving average of GBX 176.81 and a 200 day moving average of GBX 119.42. The company has a debt-to-equity ratio of 1.54, a current ratio of 6.48 and a quick ratio of 12.18. The stock has a market capitalization of £717.70 million, a price-to-earnings ratio of -20.28 and a beta of 1.60.

Ceres Power (LON:CWR) last announced its quarterly earnings data on Friday, September 26th. The company reported GBX (10.14) EPS for the quarter. Ceres Power had a negative return on equity of 22.96% and a negative net margin of 101.69%. On average, analysts expect that Ceres Power Holdings plc will post -12.4426979 EPS for the current 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.