ITM Power Plc (LON:ITM – Get Free Report)’s stock price shot up 2.9% during trading on Wednesday. The stock traded as high as GBX 77 and last traded at GBX 74.90. 2,564,928 shares traded hands during mid-day trading, a decline of 56% from the average daily volume of 5,784,281 shares. The stock had previously closed at GBX 72.80.
Analyst Ratings Changes
ITM has been the subject of several analyst reports. Berenberg Bank reaffirmed a “buy” rating and set a GBX 200 price objective on shares of ITM Power in a research report on Monday, October 12th. JPMorgan Chase & Co. increased their price objective on ITM Power from GBX 60 to GBX 80 and gave the company a “neutral” rating in a report on Wednesday, August 5th. Finally, Peel Hunt reissued a “hold” rating and set a GBX 92 target price on shares of ITM Power in a research report on Thursday, October 8th. Two equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of GBX 4,086.40.
Get Our Latest Stock Analysis on ITM
ITM Power Price Performance
The company has a debt-to-equity ratio of 5.87, a quick ratio of 7.56 and a current ratio of 2.73. The stock’s 50-day moving average is GBX 91.57 and its 200 day moving average is GBX 102.47. The stock has a market capitalization of £480.04 million, a PE ratio of -17.39 and a beta of 2.82.
ITM Power (LON:ITM – Get Free Report) last announced its quarterly earnings results on Monday, October 19th. The company reported GBX (4) EPS for the quarter. ITM Power had a negative return on equity of 11.09% and a negative net margin of 57.26%. As a group, equities analysts expect that ITM Power Plc will post -8.92 earnings per share for the current year.
Insider Activity at ITM Power
In other news, insider John Howarth bought 23,072 shares of the business’s stock in a transaction dated Tuesday, October 20th. The shares were acquired at an average price of GBX 87 per share, for a total transaction of £20,072.64. Insiders bought a total of 23,697 shares of company stock worth $2,067,449 in the last 90 days. 7.96% of the stock is currently owned by insiders.
ITM Power Company Profile
ITM Power designs and manufactures industrial-scale electrolysers for green hydrogen production. Its proprietary PEM technology, vertically integrated manufacturing, and in-house engineering capabilities enable it to supply standardised, high-performance hydrogen plants. With a proven track record in large-scale projects, ITM Power helps leading industrial and energy companies achieve their decarbonisation goals. In addition to its equipment offering, the company provides reliable and cost-competitive hydrogen supply through its build, own and operate (BOO) model, Hydropulse.
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