ITM Power (LON:ITM) Trading Down 8.4% – Time to Sell?

ITM Power Plc (LON:ITM) traded down 8.4% on Friday . The company traded as low as GBX 65.70 ($0.89) and last traded at GBX 67.62 ($0.92). 10,144,044 shares changed hands during trading, an increase of 118% from the average session volume of 4,646,842 shares. The stock had previously closed at GBX 73.80 ($1.00).

Wall Street Analysts Forecast Growth

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

ITM Power Trading Down 7.6%

The company has a current ratio of 4.17, a quick ratio of 7.56 and a debt-to-equity ratio of 4.73. The firm has a market capitalization of £425.00 million, a P/E ratio of -15.60 and a beta of 2.03. The business has a 50 day moving average of GBX 74.05 and a 200-day moving average of 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 for the quarter. ITM Power had a negative net margin of 164.90% and a negative return on equity of 9.97%. Analysts anticipate that ITM Power Plc will post -8.9214682 EPS 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.