ITM Power (LON:ITM) Stock Price Down 9.6% - Should You Sell?

Key Points

• ITM Power shares fell by 9.6%, trading at £66.70 after previously closing at £73.80, with trading volume significantly up by 74% from average levels.
• Berenberg Bank has set a target price of GBX 100 for ITM Power, affirming a "buy" rating, while JPMorgan Chase maintains a "neutral" stance.
• The company reported an earnings per share (EPS) of £(7.40) with a negative net margin of 164.90%, alongside a high debt-to-equity ratio of 4.73.

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

Analyst Ratings Changes

Several analysts recently issued reports on ITM shares. JPMorgan Chase & Co. reiterated a "neutral" rating on shares of ITM Power in a report on Monday, July 28th. Berenberg Bank reiterated a "buy" rating and set a GBX 100 ($1.35) target price on shares of ITM Power in a report on Thursday.

ITM Power Stock Up 5.0%

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 firm has a 50 day simple moving average of GBX 73.81 and a 200-day simple moving average of GBX 48.95. The stock has a market cap of £446.19 million, a P/E ratio of -16.38 and a beta of 2.03.

ITM Power (LON:ITM - Get Free Report) last released its quarterly earnings data 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%. On average, equities research analysts forecast that ITM Power Plc will post -8.9214682 earnings per share for the current fiscal year.

About ITM Power

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.