ITM Power (LON:ITM) Sets New 1-Year High – Here’s What Happened

ITM Power Plc (LON:ITM)’s share price hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as GBX 98.63 and last traded at GBX 97.15, with a volume of 1745859 shares traded. The stock had previously closed at GBX 95.55.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on ITM shares. UBS Group reiterated a “neutral” rating and set a GBX 60 price target on shares of ITM Power in a report on Friday, January 16th. Berenberg Bank upped their price objective on shares of ITM Power from GBX 100 to GBX 110 and gave the stock a “buy” rating in a research report on Tuesday. Two investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, ITM Power currently has an average rating of “Moderate Buy” and a consensus price target of GBX 95.

ITM Power Stock Up 2.3%

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’s 50-day simple moving average is GBX 65.02 and its 200-day simple moving average is GBX 69.42. The firm has a market capitalization of £602.04 million, a P/E ratio of -19.54 and a beta of 2.03.

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