ITM Power (LON:ITM) Given Buy Rating at Berenberg Bank

ITM Power (LON:ITM)‘s stock had its “buy” rating reiterated by research analysts at Berenberg Bank in a report released on Thursday, MarketBeat reports. They currently have a GBX 100 price target on the stock. Berenberg Bank’s price target would indicate a potential upside of 58.73% from the stock’s previous close.

Several other analysts have also issued reports on ITM. UBS Group restated a “neutral” rating and issued a GBX 60 price target on shares of ITM Power in a research report on Friday, January 16th. Jefferies Financial Group increased their target price on shares of ITM Power from GBX 60 to GBX 115 and gave the company a “buy” rating in a research note on Wednesday, October 1st. Two analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of GBX 91.67.

ITM Power Stock Performance

LON:ITM traded down GBX 4 during midday trading on Thursday, reaching GBX 63. The stock had a trading volume of 4,908,897 shares, compared to its average volume of 2,099,788. The stock has a market capitalization of £388.19 million, a P/E ratio of -8.51 and a beta of 2.03. ITM Power has a 1-year low of GBX 25.08 and a 1-year high of GBX 98.45. The company has a debt-to-equity ratio of 4.73, a current ratio of 4.17 and a quick ratio of 7.56. The firm’s fifty day simple moving average is GBX 66.62 and its 200-day simple moving average is GBX 70.49.

ITM Power (LON:ITM) last released its quarterly earnings results on Thursday, January 29th. The company reported GBX (2.30) earnings per share (EPS) for the quarter. ITM Power had a negative net margin of 164.90% and a negative return on equity of 9.97%. On average, equities research analysts forecast that ITM Power will post -8.9214682 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Dennis Schulz purchased 466 shares of the business’s stock in a transaction that occurred on Tuesday, December 16th. The stock was purchased at an average cost of GBX 64 per share, with a total value of £298.24. Also, insider Simon Bourne purchased 466 shares of ITM Power stock in a transaction on Tuesday, December 16th. The stock was purchased at an average price of GBX 64 per share, for a total transaction of £298.24. Insiders acquired 1,792 shares of company stock worth $119,656 over the last quarter. Company insiders own 8.73% of the company’s stock.

ITM Power Company Profile

ITM Power was founded in 2000, and ITM Power PLC was admitted to the London Stock Exchange’s AIM market in 2004.

Headquartered in Sheffield, England, ITM Power designs and manufactures electrolysers based on proton exchange membrane (PEM) technology to produce green hydrogen, the only net zero energy gas, using renewable electricity and water.