ITM Power (LON:ITM) Price Target Raised to GBX 115 at Jefferies Financial Group

ITM Power (LON:ITM) had its target price raised by Jefferies Financial Group from GBX 60 to GBX 115 in a report released on Wednesday morning, Marketbeat Ratings reports. They currently have a buy rating on the stock.

A number of other brokerages also recently weighed in on ITM. JPMorgan Chase & Co. restated a “neutral” rating on shares of ITM Power in a research note on Monday, July 28th. Berenberg Bank restated a “buy” rating and issued a GBX 100 target price on shares of ITM Power in a research note on Thursday, August 14th. Three research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of GBX 95.

ITM Power Stock Performance

Shares of ITM opened at GBX 78.20 on Wednesday. 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 stock has a 50 day moving average price of GBX 67.05 and a two-hundred day moving average price of GBX 56.84. The firm has a market capitalization of £481.84 million, a P/E ratio of -1,056.76 and a beta of 2.03. ITM Power has a 52 week low of GBX 25.08 and a 52 week high of GBX 98.45.

ITM Power (LON:ITM) last issued its quarterly earnings data on Thursday, August 14th. The company reported GBX (7.40) EPS for the quarter. ITM Power had a negative return on equity of 9.97% and a negative net margin of 164.90%. Equities analysts forecast that ITM Power 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.