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ITM Power (LON:ITM) Trading 8.7% Higher - What's Next?

ITM Power logo with Industrials background

Key Points

  • ITM Power's shares surged by 8.7% on Tuesday, closing at GBX 65.04 ($0.86) after trading as high as GBX 68.20 ($0.91), with a trading volume significantly above the average.
  • Berenberg Bank has upgraded ITM Power to a "buy" rating, raising the price target from GBX 59 ($0.78) to GBX 100 ($1.33).
  • ITM Power, known for its green hydrogen production technology, has a market capitalization of £411.91 million and a high debt-to-equity ratio of 4.73.
  • Need Better Tools to Track ITM Power? Try 5 Weeks of MarketBeat All Access for $5. Start Portfolio Tracking Now.

ITM Power Plc (LON:ITM - Get Free Report)'s stock price traded up 8.7% during mid-day trading on Tuesday . The company traded as high as GBX 68.20 ($0.92) and last traded at GBX 65.04 ($0.87). 6,723,836 shares changed hands during mid-day trading, an increase of 46% from the average session volume of 4,617,773 shares. The stock had previously closed at GBX 59.82 ($0.80).

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. JPMorgan Chase & Co. reaffirmed a "neutral" rating on shares of ITM Power in a research report on Monday, July 28th. Berenberg Bank upgraded ITM Power to a "buy" rating and boosted their price target for the company from GBX 59 ($0.79) to GBX 100 ($1.34) in a report on Friday, August 1st.

Check Out Our Latest Analysis on ITM

ITM Power Stock Performance

The company has a market capitalization of £412.54 million, a price-to-earnings ratio of -15.14 and a beta of 2.03. The stock's 50 day moving average price is GBX 74.20 and its 200 day moving average price is GBX 47.22. The company has a current ratio of 4.17, a quick ratio of 7.56 and a debt-to-equity ratio of 4.73.

ITM Power Company Profile

(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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