ITM Power (LON:ITM) Issues Quarterly Earnings Results

by · The Cerbat Gem

ITM Power (LON:ITM – Get Free Report) released its earnings results on Monday. The company reported GBX (4) earnings per share for the quarter, Digital Look Earnings reports. ITM Power had a negative return on equity of 11.09% and a negative net margin of 57.26%.

ITM Power Stock Up 5.0%

Shares of ITM opened at GBX 90.30 on Wednesday. ITM Power has a 52 week low of GBX 57.90 and a 52 week high of GBX 219.80. The stock has a market capitalization of £623.25 million, a price-to-earnings ratio of -18.06 and a beta of 2.82. 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 has a fifty day moving average of GBX 101.14 and a 200-day moving average of GBX 118.64.

Insider Buying and Selling at ITM Power

In other news, insider John Howarth acquired 23,072 shares of ITM Power stock in a transaction that occurred on Tuesday, October 20th. The shares were acquired at an average price of GBX 87 per share, for a total transaction of £20,072.64. Over the last 90 days, insiders acquired 23,697 shares of company stock worth $2,067,449. Company insiders own 7.89% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently weighed in on ITM shares. Peel Hunt restated a “hold” rating and set a GBX 92 price objective on shares of ITM Power in a research report on Thursday, October 8th. JPMorgan Chase & Co. boosted their target price on ITM Power from GBX 60 to GBX 80 and gave the stock a “neutral” rating in a research note on Wednesday, August 5th. Finally, Berenberg Bank restated a “buy” rating and issued a GBX 200 price target on shares of ITM Power in a research note on Monday, October 12th. Two analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, ITM Power has an average rating of “Hold” and an average target price of GBX 4,086.40.

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About ITM Power

(Get Free Report)

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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