ITM Power (LON:ITM) Price Target Raised to GBX 80

ITM Power (LON:ITM) had its price objective raised by analysts at JPMorgan Chase & Co. from GBX 60 to GBX 80 in a research note issued on Wednesday,Digital Look reports. The brokerage currently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price target would indicate a potential downside of 23.85% from the company’s current price.

A number of other equities analysts also recently commented on ITM. Berenberg Bank upped their target price on ITM Power from GBX 100 to GBX 110 and gave the company a “buy” rating in a report on Tuesday, April 14th. Jefferies Financial Group upgraded shares of ITM Power to a “buy” rating and lifted their price target 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 given a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of GBX 5,062.50.

ITM Power Trading Up 0.4%

LON ITM opened at GBX 105.06 on Wednesday. ITM Power has a fifty-two week low of GBX 57.90 and a fifty-two week high of GBX 219.80. The company has a debt-to-equity ratio of 6.99, a quick ratio of 7.56 and a current ratio of 2.62. The stock has a 50 day simple moving average of GBX 127.42 and a two-hundred day simple moving average of GBX 103.86. The stock has a market cap of £725.13 million, a P/E ratio of -21.01 and a beta of 2.89.

Insider Transactions at ITM Power

In other news, insider Warren East acquired 172,000 shares of the stock in a transaction on Monday, June 29th. The stock was acquired at an average price of GBX 115 per share, with a total value of £197,800. Insiders acquired a total of 172,565 shares of company stock valued at $19,854,853 in the last ninety days. 7.89% of the stock is currently owned by corporate insiders.

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.