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ITM Power (LON:ITM) Shares Down 11% - What's Next?

ITM Power logo with Industrials background

Key Points

  • ITM Power's shares fell by 11% during mid-day trading, reaching a low of GBX 57.10 ($0.76) after previously closing at GBX 65.40 ($0.87).
  • Analysts have given mixed reviews with JPMorgan Chase & Co. maintaining a "neutral" rating and Berenberg Bank setting a price target of GBX 59 ($0.79).
  • The company focuses on designing and manufacturing electrolysers for green hydrogen production, using renewable resources.
  • MarketBeat previews top five stocks to own in September.

ITM Power Plc (LON:ITM - Get Free Report)'s share price traded down 11% during trading on Wednesday . The company traded as low as GBX 57.10 ($0.76) and last traded at GBX 58.20 ($0.77). 13,131,366 shares changed hands during mid-day trading, an increase of 184% from the average session volume of 4,624,681 shares. The stock had previously closed at GBX 65.40 ($0.87).

Analysts Set New Price Targets

A number of equities analysts have commented on the company. Berenberg Bank reissued a "hold" rating and issued a GBX 59 ($0.78) price objective on shares of ITM Power in a research note on Thursday, May 8th. JPMorgan Chase & Co. reissued a "neutral" rating on shares of ITM Power in a research note on Monday.

Get Our Latest Stock Analysis on ITM Power

ITM Power Stock Performance

The company has a quick ratio of 7.56, a current ratio of 4.17 and a debt-to-equity ratio of 4.73. The stock has a 50 day simple moving average of GBX 72.78 and a two-hundred day simple moving average of GBX 46.40. The stock has a market capitalization of £372.80 million, a P/E ratio of -13.69 and a beta of 2.03.

About ITM Power

(Get Free Report)

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.

See Also

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