Ceres Power (LON:CWR) Stock Price Up 21.4% – Here’s Why

Ceres Power Holdings plc (LON:CWR)’s stock price was up 21.4% on Wednesday . The company traded as high as GBX 383.42 and last traded at GBX 379.60. Approximately 22,316,361 shares changed hands during trading, an increase of 998% from the average daily volume of 2,032,417 shares. The stock had previously closed at GBX 312.80.

Ceres Power Stock Performance

The firm has a market capitalization of £717.70 million, a P/E ratio of -20.28 and a beta of 1.60. 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 business’s 50 day simple moving average is GBX 176.81 and its two-hundred day simple moving average is GBX 119.42.

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