ITM Power (LON:ITM) Issues Quarterly Earnings Results

ITM Power (LON:ITM) announced its quarterly earnings data on Thursday. The company reported GBX (2.30) EPS for the quarter, Digital Look Earnings reports. ITM Power had a negative net margin of 164.90% and a negative return on equity of 9.97%.

ITM Power Stock Down 1.6%

ITM traded down GBX 1.09 during trading on Thursday, hitting GBX 65.91. The stock had a trading volume of 2,591,048 shares, compared to its average volume of 1,983,896. ITM Power has a twelve month low of GBX 25.08 and a twelve month high of GBX 98.45. The stock has a 50 day simple moving average of GBX 66.62 and a two-hundred day simple moving average of GBX 70.49. The company has a debt-to-equity ratio of 4.73, a quick ratio of 7.56 and a current ratio of 4.17. The company has a market capitalization of £406.10 million, a PE ratio of -8.91 and a beta of 2.03.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on ITM shares. Jefferies Financial Group lifted their target price on ITM Power from GBX 60 to GBX 115 and gave the stock a “buy” rating in a report on Wednesday, October 1st. UBS Group reissued a “neutral” rating and set a GBX 60 target price on shares of ITM Power in a research report on Friday, January 16th. Finally, Berenberg Bank restated a “buy” rating and issued a GBX 100 target price on shares of ITM Power in a report on Thursday, December 4th. Two investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of GBX 91.67.

Insider Activity

In other ITM Power news, insider Dennis Schulz purchased 466 shares of ITM Power stock in a transaction on Tuesday, December 16th. The stock was bought at an average cost of GBX 64 per share, with a total value of £298.24. Also, insider Simon Bourne purchased 466 shares of the business’s stock in a transaction on Tuesday, December 16th. The shares were bought at an average cost of GBX 64 per share, for a total transaction of £298.24. In the last 90 days, insiders have bought 1,792 shares of company stock worth $119,656. Corporate insiders own 8.73% of the company’s stock.

About ITM Power

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.