ITM Power (LON:ITM) Stock Price Up 9% - Time to Buy?

Key Points

• ITM Power's stock rose by 9% in Thursday trading, with shares reaching a peak of GBX 77 ($1.04) before closing at GBX 73.80 ($1.00).
• Analysts from JPMorgan reissued a "neutral" rating, while Berenberg Bank issued a "buy" rating with a price target of GBX 100 ($1.35).
• The company reported a quarterly earnings loss of GBX (7.40) (($0.10)) per share, and analysts anticipate further negative earnings for the current fiscal year.

ITM Power Plc (LON:ITM - Get Free Report)'s stock price rose 9% during trading on Thursday . The stock traded as high as GBX 77 ($1.04) and last traded at GBX 73.80 ($1.00). Approximately 11,383,650 shares changed hands during mid-day trading, an increase of 147% from the average daily volume of 4,611,828 shares. The stock had previously closed at GBX 67.70 ($0.92).

Analyst Upgrades and Downgrades

ITM has been the topic of several research reports. JPMorgan Chase & Co. reissued a "neutral" rating on shares of ITM Power in a research report on Monday, July 28th. Berenberg Bank reissued a "buy" rating and issued a GBX 100 ($1.35) price objective on shares of ITM Power in a research report on Thursday.

ITM Power Price Performance

The stock has a market capitalization of £459.90 million, a price-to-earnings ratio of -16.88 and a beta of 2.03. 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 business has a 50-day simple moving average of GBX 74.14 and a two-hundred day simple moving average of GBX 48.31.

ITM Power (LON:ITM - Get Free Report) last released its earnings results on Thursday, August 14th. The company reported GBX (7.40) (($0.10)) earnings per share 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, research analysts predict that ITM Power Plc will post -8.9214682 earnings per share for the current fiscal 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.

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