ITM Power (LON:ITM) Stock Rating Reaffirmed as Hold by Peel Hunt

ITM Power (LON:ITM)‘s stock had its “hold” rating reaffirmed by stock analysts at Peel Hunt in a report issued on Thursday, Digital Look reports. They presently have a GBX 92 price objective on the stock. Peel Hunt’s price target would suggest a potential downside of 3.55% from the stock’s previous close.

Separately, JPMorgan Chase & Co. boosted their price target on ITM Power from GBX 60 to GBX 80 and gave the stock a “neutral” rating in a research report on Wednesday, August 5th. Two analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of GBX 4,068.40.

ITM Power Trading Up 6.5%

Shares of ITM opened at GBX 95.38 on Thursday. ITM Power has a 12 month low of GBX 57.90 and a 12 month high of GBX 219.80. The stock’s 50-day moving average is GBX 103.78 and its two-hundred day moving average is GBX 116.83. The company has a debt-to-equity ratio of 6.99, a current ratio of 2.62 and a quick ratio of 7.56. The stock has a market cap of £658.34 million, a PE ratio of -19.08 and a beta of 2.85.

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.