ITM Power’s (ITM) Buy Rating Reaffirmed at Berenberg Bank

ITM Power (LON:ITM)‘s stock had its “buy” rating reiterated by research analysts at Berenberg Bank in a report issued on Monday, October 12th, Digital Look reports. They presently have a GBX 200 target price on the stock. Berenberg Bank’s price objective points to a potential upside of 133.10% from the company’s previous close.

Other analysts have also issued research reports about the company. JPMorgan Chase & Co. upped their price objective on ITM Power from GBX 60 to GBX 80 and gave the company a “neutral” rating in a report on Wednesday, August 5th. Peel Hunt reiterated a “hold” rating and issued a GBX 92 target price on shares of ITM Power in a report on Thursday, October 8th. Two analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of GBX 4,086.40.

ITM Power Stock Performance

ITM Power stock traded down GBX 6.15 during mid-day trading on Monday, hitting GBX 85.80. 4,490,343 shares of the company’s stock traded hands, compared to its average volume of 5,858,931. The firm has a 50 day moving average price of GBX 102.18 and a 200 day moving average price of GBX 118.32. The company has a quick ratio of 7.56, a current ratio of 2.62 and a debt-to-equity ratio of 6.99. The company has a market cap of £592.19 million, a PE ratio of -17.16 and a beta of 2.82. ITM Power has a one year low of GBX 57.90 and a one year high of GBX 219.80.

ITM Power (LON:ITM) last released its quarterly earnings results on Monday, October 19th. The company reported GBX (4) 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%. On average, equities analysts forecast that ITM Power will post -8.92 EPS for the current year.

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.