ITM Power's (ITM) "Buy" Rating Reiterated at Berenberg Bank

Key Points

• Berenberg Bank has reiterated its "buy" rating for ITM Power with a price target of GBX 100 ($1.36), suggesting a potential upside of 35.50% from the current stock price.
• ITM Power traded at GBX 73.80 ($1.00), with recent trading volume significantly higher than its average, reflecting increased investor activity.
• The company's recent earnings report showed a loss of GBX 7.40 (($0.10)) per share, alongside a negative return on equity of 9.97% and a negative net margin of 164.90%.

ITM Power (LON:ITM - Get Free Report)'s stock had its "buy" rating reissued by Berenberg Bank in a note issued to investors on Thursday,Digital Look reports. They presently have a GBX 100 ($1.36) price target on the stock. Berenberg Bank's price target indicates a potential upside of 35.50% from the stock's previous close.

Separately, JPMorgan Chase & Co. restated a "neutral" rating on shares of ITM Power in a research report on Monday, July 28th.

ITM Power Stock Performance

Shares of ITM traded up GBX 6.10 ($0.08) during mid-day trading on Thursday, hitting GBX 73.80 ($1.00). 11,383,650 shares of the company's stock were exchanged, compared to its average volume of 4,611,828. ITM Power has a fifty-two week low of GBX 25.08 ($0.34) and a fifty-two week high of GBX 98.45 ($1.34). The firm has a market capitalization of £459.90 million, a P/E ratio of -16.88 and a beta of 2.03. The business's 50 day moving average is GBX 73.89 and its two-hundred day moving average is GBX 48.04. The company has a current ratio of 4.17, a quick ratio of 7.56 and a debt-to-equity ratio of 4.73.

ITM Power (LON:ITM - Get Free Report) last announced 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%. On average, equities analysts expect that ITM Power will post -8.9214682 earnings per share 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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