ITM Power (LON:ITM) Issues Earnings Results

ITM Power (LON:ITM) posted its earnings results on Monday. The company reported GBX (4) earnings per share (EPS) 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 Trading Up 0.9%

Shares of LON ITM traded up GBX 0.74 during midday trading on Friday, reaching GBX 81.44. The company had a trading volume of 7,963,854 shares, compared to its average volume of 5,834,185. ITM Power has a one year low of GBX 57.90 and a one year high of GBX 219.80. The company has a quick ratio of 7.56, a current ratio of 2.73 and a debt-to-equity ratio of 5.87. The firm’s fifty day moving average price is GBX 99.40 and its 200-day moving average price is GBX 118.67. The stock has a market cap of £562.14 million, a PE ratio of -16.29 and a beta of 2.82.

Wall Street Analysts Forecast Growth

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

Insider Activity at ITM Power

In related news, insider John Howarth bought 23,072 shares of the business’s stock in a transaction dated Tuesday, October 20th. The shares were purchased at an average price of GBX 87 per share, with a total value of £20,072.64. Insiders have acquired 23,697 shares of company stock valued at $2,067,449 over the last quarter. 7.89% of the stock is owned by 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.