ITM Power (LON:ITM) Reaches New 12-Month High – Time to Buy?

ITM Power Plc (LON:ITM) shares hit a new 52-week high on Thursday . The company traded as high as GBX 145 and last traded at GBX 141.50, with a volume of 8760563 shares changing hands. The stock had previously closed at GBX 139.80.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on ITM shares. UBS Group restated a “neutral” rating and issued a GBX 60 price objective on shares of ITM Power in a report on Friday, January 16th. Berenberg Bank raised 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 investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of GBX 95.

ITM Power Price Performance

The company’s 50 day moving average is GBX 71.50 and its 200 day moving average is GBX 71.16. The company has a current ratio of 2.62, a quick ratio of 7.56 and a debt-to-equity ratio of 6.99. The stock has a market capitalization of £878.65 million, a price-to-earnings ratio of -28.52 and a beta of 2.03.

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