ITM Power (LON:ITM) Trading 12.7% Higher - What's Next?

Key Points

• Shares jumped 12.7% intraday to a high of GBX 151.30 (last GBX 146) on Thursday, with trading volume of 12.85 million shares—about 150% above the average session volume.
• Analysts hold a consensus "Moderate Buy" rating with a consensus price target of GBX 95; opinions are mixed (two Buy, two Hold) and recent targets range from UBS GBX 60 to Berenberg GBX 110.
• ITM Power remains unprofitable (negative EPS and net margin, P/E -31.8) despite strong liquidity (quick ratio 7.56) and a market cap of £979.7M; the company makes PEM electrolysers for green hydrogen production.

ITM Power Plc (LON:ITM - Get Free Report)'s share price traded up 12.7% during mid-day trading on Thursday . The stock traded as high as GBX 151.30 and last traded at GBX 146. 12,854,918 shares changed hands during trading, an increase of 150% from the average session volume of 5,140,986 shares. The stock had previously closed at GBX 129.60.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. UBS Group reiterated a "neutral" rating and set a GBX 60 price objective on shares of ITM Power in a research note on Friday, January 16th. Berenberg Bank increased their target price on ITM Power from GBX 100 to GBX 110 and gave the stock a "buy" rating in a report on Tuesday, April 14th. Two research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, ITM Power has a consensus rating of "Moderate Buy" and a consensus price target of GBX 95.

ITM Power Stock Up 8.9%

The firm has a fifty day moving average price of GBX 79.54 and a 200 day moving average price of GBX 73.18. The company has a quick ratio of 7.56, a current ratio of 2.62 and a debt-to-equity ratio of 6.99. The company has a market cap of £979.71 million, a P/E ratio of -31.80 and a beta of 2.03.

ITM Power (LON:ITM - Get Free Report) last announced its earnings results on Thursday, January 29th. The company reported GBX (2.30) EPS for the quarter. ITM Power had a negative return on equity of 14.17% and a negative net margin of 108.00%. Equities research analysts forecast that ITM Power Plc will post -8.9214682 earnings per share for the current year.

About ITM Power

ITM Power designs and manufactures industrial-scale electrolysers for green hydrogen production. Its proprietary PEM technology, vertically integrated manufacturing, and in-house engineering capabilities enable it to supply standardised, high-performance hydrogen plants. With a proven track record in large-scale projects, ITM Power helps leading industrial and energy companies achieve their decarbonisation goals. In addition to its equipment offering, the company provides reliable and cost-competitive hydrogen supply through its build, own and operate (BOO) model, Hydropulse. Headquartered in the UK, ITM Power is listed on the London Stock Exchange AIM LSE: ITM and holds the Green Economy Mark, which recognises companies that generate over 50% of their revenues from green products and services.

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