ITM Power (LON:ITM) Price Target Raised to GBX 115 at Jefferies Financial Group

ITM Power (LON:ITM) had its price target upped by Jefferies Financial Group from GBX 60 to GBX 115 in a research note issued to investors on Wednesday, MarketBeat Ratings reports. Jefferies Financial Group currently has a buy rating on the stock.

Other research analysts have also recently issued research reports about the company. JPMorgan Chase & Co. reiterated a “neutral” rating on shares of ITM Power in a research note on Monday, July 28th. Berenberg Bank reiterated a “buy” rating and set a GBX 100 price objective on shares of ITM Power in a research note on Thursday, August 14th. Three equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of GBX 95.

ITM Power Trading Up 3.6%

ITM opened at GBX 79.02 on Wednesday. The stock has a market cap of £486.90 million, a PE ratio of -1,067.85 and a beta of 2.03. The company has a quick ratio of 7.56, a current ratio of 4.17 and a debt-to-equity ratio of 4.73. The business has a 50 day moving average of GBX 67.61 and a 200-day moving average of GBX 57.53. ITM Power has a 52 week low of GBX 25.08 and a 52 week high of GBX 98.45.

ITM Power (LON:ITM) last posted its quarterly earnings data on Thursday, August 14th. The company reported GBX (7.40) earnings per share for the quarter. ITM Power had a negative net margin of 164.90% and a negative return on equity of 9.97%. Equities research analysts predict that ITM Power will post -8.9214682 earnings per share for the current fiscal year.

About ITM Power

ITM Power was founded in 2000, and ITM Power PLC was admitted to the London Stock Exchange’s AIM market in 2004.

Headquartered in Sheffield, England, ITM Power designs and manufactures electrolysers based on proton exchange membrane (PEM) technology to produce green hydrogen, the only net zero energy gas, using renewable electricity and water.