ITM Power (LON:ITM) Price Target Raised to GBX 110

ITM Power (LON:ITM) had its price target boosted by Berenberg Bank from GBX 100 to GBX 110 in a research report released on Tuesday,Digital Look reports. Berenberg Bank currently has a buy rating on the stock.

Separately, UBS Group reaffirmed a “neutral” rating and set a GBX 60 price objective on shares of ITM Power in a research report on Friday, January 16th. Two equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of GBX 95.

ITM Power Stock Down 1.8%

ITM stock opened at GBX 93.85 on Tuesday. ITM Power has a twelve month low of GBX 27.45 and a twelve month high of GBX 98.80. The company has a quick ratio of 7.56, a current ratio of 2.62 and a debt-to-equity ratio of 6.99. The firm has a market cap of £578.27 million, a PE ratio of -18.77 and a beta of 2.03. The business has a 50 day moving average of GBX 65.62 and a 200 day moving average of GBX 69.59.

ITM Power (LON:ITM) last posted its quarterly earnings data on Thursday, January 29th. The company reported GBX (2.30) earnings per share for the quarter. ITM Power had a negative net margin of 108.00% and a negative return on equity of 14.17%. On average, research analysts forecast that ITM Power will post -8.9214682 EPS 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.