ITM Power’s (ITM) “Hold” Rating Reaffirmed at Peel Hunt

ITM Power (LON:ITM)‘s stock had its “hold” rating restated by research analysts at Peel Hunt in a report issued on Thursday, Digital Look reports. They currently have a GBX 92 price objective on the stock. Peel Hunt’s price target would suggest a potential downside of 0.70% from the company’s previous close.

Separately, 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 research note on Wednesday, August 5th. Two equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of GBX 4,068.40.

ITM Power Price Performance

ITM traded up GBX 3.05 on Thursday, reaching GBX 92.65. 3,221,520 shares of the company’s stock were exchanged, compared to its average volume of 5,957,415. The stock has a market cap of £639.47 million, a PE ratio of -18.53 and a beta of 2.85. ITM Power has a twelve month low of GBX 57.90 and a twelve month high of GBX 219.80. The stock’s fifty day moving average price is GBX 103.78 and its 200-day moving average price is GBX 116.83. The company has a debt-to-equity ratio of 6.99, a current ratio of 2.62 and a quick ratio of 7.56.

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.