ITM Power (LON:ITM) Trading Down 7.3% - What's Next?

Key Points

• ITM Power's shares fell by 7.3% to a last traded price of GBX 68.40 ($0.93), with trading volume increasing significantly to over 10 million shares.
• Analysts from Berenberg Bank maintain a "buy" rating with a target price of GBX 100 ($1.35), while JPMorgan Chase & Co. holds a "neutral" rating.
• The company's latest earnings report revealed a negative EPS of GBX (7.40) (($0.10)) and a negative net margin of 164.90%, indicating financial challenges ahead.

ITM Power Plc (LON:ITM - Get Free Report)'s share price was down 7.3% on Friday . The company traded as low as GBX 65.70 ($0.89) and last traded at GBX 68.40 ($0.92). Approximately 10,025,302 shares changed hands during trading, an increase of 116% from the average daily volume of 4,646,091 shares. The stock had previously closed at GBX 73.80 ($1.00).

Analysts Set New Price Targets

ITM has been the subject of a number of analyst reports. Berenberg Bank restated a "buy" rating and set a GBX 100 price objective on shares of ITM Power in a research report on Thursday, August 14th. JPMorgan Chase & Co. reiterated a "neutral" rating on shares of ITM Power in a research note on Monday, July 28th. Three equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of GBX 76.67.

ITM Power Stock Down 2.8%

The company has a debt-to-equity ratio of 4.73, a current ratio of 4.17 and a quick ratio of 7.56. The firm has a market capitalization of £420.85 million, a P/E ratio of -15.45 and a beta of 2.03. The firm's fifty day moving average price is GBX 73.70 and its 200-day moving average price is GBX 49.09.

ITM Power (LON:ITM - Get Free Report) last announced its earnings results on Thursday, August 14th. The company reported GBX (7.40) EPS for the quarter. ITM Power had a negative return on equity of 9.97% and a negative net margin of 164.90%. As a group, equities research analysts forecast that ITM Power Plc will post -8.9214682 earnings per share for the current year.

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.