ITM Power (LON:ITM) Trading Down 3.4% – What’s Next?

ITM Power Plc (LON:ITM) shares traded down 3.4% on Monday . The stock traded as low as GBX 126.10 and last traded at GBX 126.97. 75,264,313 shares were traded during trading, an increase of 1,464% from the average session volume of 4,811,482 shares. The stock had previously closed at GBX 131.50.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. UBS Group reissued a “neutral” rating and set a GBX 60 price objective on shares of ITM Power in a report on Friday, January 16th. Berenberg Bank boosted their price objective on shares of ITM Power from GBX 100 to GBX 110 and gave the company a “buy” rating in a report on Tuesday, April 14th. Two analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, ITM Power presently has an average rating of “Moderate Buy” and a consensus target price of GBX 95.

ITM Power Price Performance

The stock has a market capitalization of £849.72 million, a PE ratio of -27.58 and a beta of 2.03. 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’s fifty day moving average price is GBX 69.92 and its two-hundred day moving average price is GBX 70.68.

ITM Power (LON:ITM) last announced its earnings results on Thursday, January 29th. The company reported GBX (2.30) EPS for the quarter. ITM Power had a negative net margin of 108.00% and a negative return on equity of 14.17%. On average, equities analysts predict that ITM Power Plc will post -8.9214682 earnings per share for the current year.

ITM Power Company Profile

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.