ITM Power (LON:ITM) Releases Earnings Results

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

ITM Power Stock Performance

ITM traded up GBX 0.55 on Wednesday, reaching GBX 86.55. The stock had a trading volume of 2,772,539 shares, compared to its average volume of 5,837,251. ITM Power has a 12-month low of GBX 57.90 and a 12-month high of GBX 219.80. The company has a current ratio of 2.73, a quick ratio of 7.56 and a debt-to-equity ratio of 5.87. The business’s 50-day moving average price is GBX 101.14 and its two-hundred day moving average price is GBX 118.64. The company has a market cap of £597.37 million, a P/E ratio of -17.31 and a beta of 2.82.

Analyst Upgrades and Downgrades

ITM has been the topic of a number of recent research reports. JPMorgan Chase & Co. upped 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. Peel Hunt reiterated a “hold” rating and set a GBX 92 price target on shares of ITM Power in a research report on Thursday, October 8th. Finally, Berenberg Bank reissued a “buy” rating and issued a GBX 200 price target on shares of ITM Power in a report on Monday, October 12th. Two equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of GBX 4,086.40.

Insider Activity

In other news, insider John Howarth bought 23,072 shares of the stock in a transaction dated Tuesday, October 20th. The shares were acquired at an average cost of GBX 87 per share, with a total value of £20,072.64. Over the last 90 days, insiders have bought 23,697 shares of company stock worth $2,067,449. Corporate insiders own 7.89% of the company’s stock.

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.