ITM Power (LON:ITM) Trading Up 9% - Still a Buy?

Key Points

• ITM Power's stock price increased by 9% during trading, reaching GBX 77 ($1.04) before closing at GBX 73.80 ($1.00) with a significant trading volume surge of 147% from the average.
• Berenberg Bank maintains a "buy" rating on ITM Power shares, setting a price objective of GBX 100 ($1.35), while JPMorgan Chase has a "neutral" rating on the stock.
• The company reported a negative net margin of 164.90% and earnings per share of GBX (7.40) (($0.10)) for the last quarter, indicating financial challenges despite the recent stock price uptick.

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

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. JPMorgan Chase & Co. reissued a "neutral" rating on shares of ITM Power in a research note on Monday, July 28th. Berenberg Bank reaffirmed 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 Trading Down 8.5%

The stock has a market cap of £420.70 million, a price-to-earnings ratio of -15.44 and a beta of 2.03. The business's fifty day simple moving average is GBX 74.14 and its 200 day simple moving average is GBX 48.31. The company has a debt-to-equity ratio of 4.73, a current ratio of 4.17 and a quick ratio of 7.56.

ITM Power (LON:ITM - Get Free Report) last announced its quarterly earnings data on Thursday, August 14th. The company reported GBX (7.40) (($0.10)) earnings per share for the quarter. ITM Power had a negative net margin of 164.90% and a negative return on equity of 9.97%. On average, research analysts predict that ITM Power Plc will post -8.9214682 EPS for the current 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.

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