Berenberg Bank Reaffirms Buy Rating for ITM Power (LON:ITM)

ITM Power (LON:ITM)‘s stock had its “buy” rating reiterated by equities researchers at Berenberg Bank in a research note issued on Monday, Digital Look reports. They currently have a GBX 200 price objective on the stock. Berenberg Bank’s price objective suggests a potential upside of 113.79% from the company’s current price.

Several other brokerages have also recently issued reports on ITM. Peel Hunt reissued a “hold” rating and issued a GBX 92 price objective on shares of ITM Power in a research note on Thursday, October 8th. JPMorgan Chase & Co. raised their price objective on ITM Power from GBX 60 to GBX 80 and gave the stock a “neutral” rating in a 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 stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of GBX 4,086.40.

ITM Power Stock Performance

ITM Power stock opened at GBX 93.55 on Monday. The company has a 50 day moving average price of GBX 102.93 and a 200-day moving average price of GBX 117.91. The company has a debt-to-equity ratio of 6.99, a quick ratio of 7.56 and a current ratio of 2.62. 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 market capitalization of £645.68 million, a PE ratio of -18.71 and a beta of 2.85.

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.