ITM Power (LON:ITM) Issues Quarterly Earnings Results

Key Points

• ITM Power reported a quarterly loss of GBX 4 per share, alongside a negative net margin of 108% and negative return on equity of 14.17%.
• Shares opened down 1.6% at GBX 90.52, with a market capitalization of approximately £624.76 million and a 52-week trading range of GBX 57.90 to GBX 219.80.
• Analyst sentiment was mixed: two analysts rated the stock a Buy and three rated it Hold, producing an overall “Hold” consensus despite varied price targets.

ITM Power (LON:ITM - Get Free Report) issued its quarterly earnings data on Monday. The company reported GBX (4) earnings per share (EPS) for the quarter, Digital Look Earnings reports. ITM Power had a negative net margin of 108.00% and a negative return on equity of 14.17%.

ITM Power Stock Down 1.6%

Shares of LON:ITM opened at GBX 90.52 on Monday. ITM Power has a 52-week low of GBX 57.90 and a 52-week high of GBX 219.80. 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 business's 50 day moving average is GBX 102.18 and its 200 day moving average is GBX 118.32. The stock has a market cap of £624.76 million, a P/E ratio of -18.10 and a beta of 2.82.

Wall Street Analysts Forecast Growth

ITM has been the subject of a number of recent research reports. JPMorgan Chase & Co. lifted their target price on ITM Power from GBX 60 to GBX 80 and gave the stock a "neutral" rating in a report on Wednesday, August 5th. Berenberg Bank restated a "buy" rating and set a GBX 200 price target on shares of ITM Power in a report on Monday, October 12th. Finally, Peel Hunt restated a "hold" rating and issued a GBX 92 price target on shares of ITM Power in a research report on Thursday, October 8th. Two equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of GBX 4,086.40.

ITM Power Company Profile

ITM Power designs and manufactures industrial-scale electrolysers for green hydrogen production. Its proprietary PEM technology, vertically integrated manufacturing, and in-house engineering capabilities enable it to supply standardised, high-performance hydrogen plants. With a proven track record in large-scale projects, ITM Power helps leading industrial and energy companies achieve their decarbonisation goals. In addition to its equipment offering, the company provides reliable and cost-competitive hydrogen supply through its build, own and operate (BOO) model, Hydropulse. Headquartered in the UK, ITM Power is listed on the London Stock Exchange AIM LSE: ITM and holds the Green Economy Mark, which recognises companies that generate over 50% of their revenues from green products and services.