ITM Power (LON:ITM) Releases Earnings Results

Key Points

• ITM Power reported a quarterly earnings loss of GBX 7.40 per share, with a negative return on equity of 9.97% and a net margin of 164.90%.
• The company's stock was up by GBX 6.10, trading at GBX 73.80 during the latest trading session, with a market capitalization of £459.90 million.
• Analysts have mixed ratings for ITM Power, with JPMorgan maintaining a "neutral" rating while Berenberg upgraded the stock to a "buy" with a price target increase to GBX 100.

ITM Power (LON:ITM - Get Free Report) posted its earnings results on Thursday. The company reported GBX (7.40) EPS for the quarter, Digital Look Earnings reports. ITM Power had a negative return on equity of 9.97% and a negative net margin of 164.90%.

ITM Power Price Performance

Shares of LON:ITM traded down GBX 2.10 during mid-day trading on Tuesday, reaching GBX 69.50. The stock had a trading volume of 2,929,589 shares, compared to its average volume of 4,637,813. 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 company has a market cap of £433.10 million, a P/E ratio of -15.90 and a beta of 2.03. ITM Power has a 1 year low of GBX 25.08 and a 1 year high of GBX 98.45. The business's 50 day moving average price is GBX 73.70 and its 200 day moving average price is GBX 49.09.

Analysts Set New Price Targets

A number of analysts have commented on ITM shares. JPMorgan Chase & Co. reissued a "neutral" rating on shares of ITM Power in a report on Monday, July 28th. Berenberg Bank reissued a "buy" rating and issued a GBX 100 target price on shares of ITM Power in a report on Thursday, August 14th. Three analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of GBX 76.67.

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.