ITM Power (LON:ITM) Receives “Buy” Rating from Berenberg Bank

Berenberg Bank reiterated their buy rating on shares of ITM Power (LON:ITM) in a research note published on Thursday morning, MarketBeat.com reports. The firm currently has a GBX 100 price objective on the stock.

Separately, Jefferies Financial Group increased their target price on shares of ITM Power from GBX 60 to GBX 115 and gave the company a “buy” rating in a research note on Wednesday, October 1st. Three investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, ITM Power presently has a consensus rating of “Moderate Buy” and a consensus target price of GBX 95.

ITM Power Price Performance

Shares of ITM Power stock opened at GBX 69.30 on Thursday. The stock has a market cap of £427.00 million, a price-to-earnings ratio of -9.36 and a beta of 2.03. 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 78 and a 200-day moving average price of GBX 72.18. ITM Power has a one year low of GBX 25.08 and a one year high of GBX 98.45.

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.