ITM Power (LON:ITM) Posts Quarterly Earnings Results

ITM Power (LON:ITM) issued its quarterly earnings data on Monday. The company reported GBX (4) earnings per share (EPS) 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 Performance

Shares of ITM traded up GBX 0.55 on Wednesday, reaching GBX 86.55. 2,772,539 shares of the company’s stock traded hands, compared to its average volume of 5,837,251. The stock’s 50 day simple moving average is GBX 101.14 and its two-hundred day simple moving average is GBX 118.64. The company has a current ratio of 2.73, a quick ratio of 7.56 and a debt-to-equity ratio of 5.87. 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 cap of £597.37 million, a PE ratio of -17.31 and a beta of 2.82.

Insider Transactions at ITM Power

In related news, insider John Howarth bought 23,072 shares of the company’s stock in a transaction on Tuesday, October 20th. The shares were purchased at an average cost of GBX 87 per share, for a total transaction of £20,072.64. Insiders have bought a total of 23,697 shares of company stock worth $2,067,449 in the last three months. Company insiders own 7.89% of the company’s stock.

Analyst Ratings Changes

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

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.