ITM Power (LON:ITM) Trading Down 7.3% – Time to Sell?

ITM Power Plc (LON:ITM) shares dropped 7.3% on Friday . The company traded as low as GBX 65.70 ($0.89) and last traded at GBX 68.40 ($0.93). Approximately 10,025,302 shares were traded during mid-day trading, an increase of 116% from the average daily volume of 4,646,091 shares. The stock had previously closed at GBX 73.80 ($1.00).

Analyst Ratings Changes

ITM has been the subject of a number of research reports. Berenberg Bank reaffirmed a “buy” rating and set a GBX 100 ($1.36) price target on shares of ITM Power in a research note on Thursday. JPMorgan Chase & Co. restated a “neutral” rating on shares of ITM Power in a report on Monday, July 28th.

ITM Power Stock Down 7.6%

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 stock has a market capitalization of £425.00 million, a P/E ratio of -15.60 and a beta of 2.03. The stock’s fifty day moving average is GBX 74.05 and its two-hundred day moving average is GBX 48.63.

ITM Power (LON:ITM) last released 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%. As a group, research analysts predict that ITM Power Plc will post -8.9214682 earnings per share for the current fiscal year.

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.