ITM Power (LON:ITM) Stock Price Down 9.6% - What's Next?

Key Points

• ITM Power's stock price declined by 9.6% on Friday, closing at GBX 66.70 ($0.90), following a previous close of GBX 73.80 ($1.00).
• Analysts have mixed views; Berenberg Bank maintains a "buy" rating with a target price of GBX 100 ($1.35), while JPMorgan Chase & Co. holds a "neutral" rating.
• The company reported a negative earnings per share (EPS) of GBX (7.40) ($0.10) for the recent quarter, with an anticipated average EPS of -8.92 for the current fiscal year.

ITM Power Plc (LON:ITM - Get Free Report)'s share price traded down 9.6% during trading on Friday . The company traded as low as GBX 65.70 ($0.89) and last traded at GBX 66.70 ($0.90). 8,040,718 shares changed hands during trading, an increase of 74% from the average session volume of 4,633,530 shares. The stock had previously closed at GBX 73.80 ($1.00).

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. JPMorgan Chase & Co. reaffirmed a "neutral" rating on shares of ITM Power in a research note on Monday, July 28th. Berenberg Bank reaffirmed a "buy" rating and set a GBX 100 ($1.35) price objective on shares of ITM Power in a research note on Thursday.

ITM Power Trading Up 5.0%

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 stock has a market capitalization of £446.19 million, a price-to-earnings ratio of -16.38 and a beta of 2.03. The business has a 50 day simple moving average of GBX 73.81 and a 200-day simple moving average of GBX 48.95.

ITM Power (LON:ITM - Get Free Report) last posted its earnings results on Thursday, August 14th. The company reported GBX (7.40) (($0.10)) earnings per share (EPS) for the quarter. ITM Power had a negative net margin of 164.90% and a negative return on equity of 9.97%. As a group, equities analysts expect 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.