ITM Power Plc (LON:ITM – Get Free Report)’s stock price shot up 8.2% during mid-day trading on Thursday . The company traded as high as GBX 196.60 and last traded at GBX 194.70. 9,655,847 shares traded hands during trading, an increase of 64% from the average session volume of 5,892,536 shares. The stock had previously closed at GBX 180.
Analysts Set New Price Targets
ITM has been the topic of a number of analyst reports. Berenberg Bank lifted their price target on ITM Power from GBX 100 to GBX 110 and gave the stock a “buy” rating in a research note on Tuesday, April 14th. Jefferies Financial Group raised ITM Power to a “buy” rating and lifted their price target for the stock from £115 to £200 in a research note on Thursday, May 7th. Two equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of GBX 6,723.33.
Check Out Our Latest Stock Report on ITM Power
ITM Power Price Performance
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.
Headquartered in the UK, ITM Power is listed on the London Stock Exchange AIM (LSE: ITM) and holds the Green Economy Mark, which recognises companies that generate over 50% of their revenues from green products and services.
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