ITM Power (LON:ITM) Given New GBX 110 Price Target at Berenberg Bank

ITM Power (LON:ITM) had its target price raised by Berenberg Bank from GBX 100 to GBX 110 in a report released on Tuesday,Digital Look reports. They currently have a buy rating on the stock.

Separately, UBS Group reissued a “neutral” rating and issued a GBX 60 price objective on shares of ITM Power in a report on Friday, January 16th. Two research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of GBX 95.

ITM Power Price Performance

Shares of ITM Power stock opened at GBX 93 on Tuesday. The company has a quick ratio of 7.56, a current ratio of 2.62 and a debt-to-equity ratio of 6.99. The firm has a market cap of £573.04 million, a P/E ratio of -18.60 and a beta of 2.03. ITM Power has a fifty-two week low of GBX 27.25 and a fifty-two week high of GBX 98.45. The business has a 50-day moving average price of GBX 64.40 and a 200 day moving average price of GBX 69.23.

ITM Power (LON:ITM) last announced its quarterly earnings data on Thursday, January 29th. The company reported GBX (2.30) earnings per share for the quarter. ITM Power had a negative net margin of 108.00% and a negative return on equity of 14.17%. On average, sell-side analysts forecast that ITM Power will post -8.9214682 earnings per share 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.