ITM Power (LON:ITM) Announces Quarterly Earnings Results

ITM Power (LON:ITM) announced its quarterly earnings data on Thursday. The company reported GBX (2.30) earnings per share (EPS) for the quarter, Digital Look Earnings reports. ITM Power had a negative return on equity of 9.97% and a negative net margin of 164.90%.

ITM Power Trading Down 1.8%

Shares of LON:ITM traded down GBX 1.22 during mid-day trading on Thursday, reaching GBX 65.78. 2,633,424 shares of the company’s stock were exchanged, compared to its average volume of 1,986,015. The company has a debt-to-equity ratio of 4.73, a quick ratio of 7.56 and a current ratio of 4.17. ITM Power has a twelve month low of GBX 25.08 and a twelve month high of GBX 98.45. The firm has a market capitalization of £405.31 million, a price-to-earnings ratio of -8.89 and a beta of 2.03. The business’s fifty day moving average price is GBX 66.62 and its 200-day moving average price is GBX 70.49.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on ITM. Jefferies Financial Group boosted their target price on ITM Power from GBX 60 to GBX 115 and gave the stock a “buy” rating in a research note on Wednesday, October 1st. Berenberg Bank reissued a “buy” rating and issued a GBX 100 price objective on shares of ITM Power in a research note on Thursday, December 4th. Finally, UBS Group reaffirmed a “neutral” rating and set a GBX 60 target price on shares of ITM Power in a research note on Friday, January 16th. Two analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of GBX 91.67.

Insider Activity

In related news, insider Dennis Schulz acquired 466 shares of the business’s stock in a transaction that occurred on Tuesday, December 16th. The shares were bought at an average cost of GBX 64 per share, with a total value of £298.24. Also, insider Simon Bourne bought 466 shares of ITM Power stock in a transaction that occurred on Tuesday, December 16th. The stock was bought at an average price of GBX 64 per share, for a total transaction of £298.24. Insiders have acquired a total of 1,792 shares of company stock worth $119,656 over the last ninety days. Company insiders own 8.73% of the company’s stock.

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.