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

ITM Power (LON:ITM)‘s stock had its “buy” rating reiterated by analysts at Berenberg Bank in a report issued on Thursday, Marketbeat Ratings reports. They presently have a GBX 100 ($1.36) price objective on the stock. Berenberg Bank’s price target indicates a potential upside of 46.63% from the stock’s previous close.

Separately, JPMorgan Chase & Co. reissued a “neutral” rating on shares of ITM Power in a research note on Monday, July 28th.

ITM Power Price Performance

ITM stock opened at GBX 68.20 ($0.92) on Thursday. The company has a 50 day simple moving average of GBX 74.05 and a 200 day simple moving average of GBX 48.54. The stock has a market cap of £425.00 million, a price-to-earnings ratio of -15.60 and a beta of 2.03. ITM Power has a 1 year low of GBX 25.08 ($0.34) and a 1 year high of GBX 98.45 ($1.33). The company has a debt-to-equity ratio of 4.73, a current ratio of 4.17 and a quick ratio of 7.56.

ITM Power (LON:ITM) last announced its quarterly earnings results on Thursday, August 14th. The company reported GBX (7.40) (($0.10)) 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%. Research analysts anticipate that ITM Power will post -8.9214682 EPS for the current fiscal year.

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.