Ceres Power (LON:CWR) Shares Up 15.1% – Here’s Why

Ceres Power Holdings plc (LON:CWR) shot up 15.1% on Friday . The company traded as high as GBX 192 ($2.59) and last traded at GBX 190 ($2.56). 4,376,311 shares traded hands during mid-day trading, an increase of 140% from the average session volume of 1,824,499 shares. The stock had previously closed at GBX 165.10 ($2.23).

Ceres Power Stock Performance

The stock has a market capitalization of £368.51 million, a price-to-earnings ratio of -1,041.10 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 stock’s 50 day moving average is GBX 121.61 and its two-hundred day moving average is GBX 90.20.

Ceres Power (LON:CWR) last announced its earnings results on Friday, September 26th. The company reported GBX (10.14) earnings per share for the quarter. Ceres Power had a negative return on equity of 22.96% and a negative net margin of 101.69%. Analysts expect that Ceres Power Holdings plc will post -12.4426979 earnings per share for the current fiscal year.

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.