ITM Power Plc (LON:ITM – Get Free Report) rose 15.3% on Tuesday . The stock traded as high as GBX 136.30 and last traded at GBX 131.90. Approximately 6,707,959 shares were traded during trading, a decline of 13% from the average daily volume of 7,674,653 shares. The stock had previously closed at GBX 114.40.
Wall Street Analyst Weigh In
ITM has been the subject of several research analyst reports. Berenberg Bank lifted their price objective on ITM Power from GBX 100 to GBX 110 and gave the stock a “buy” rating in a report on Tuesday, April 14th. Jefferies Financial Group raised ITM Power to a “buy” rating and increased their target price for the company from £115 to £200 in a report on Thursday, May 7th. Two 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.com, ITM Power presently has a consensus rating of “Moderate Buy” and an average price target of GBX 6,723.33.
Check Out Our Latest Report on ITM
ITM Power Stock Performance
About ITM Power
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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