ITM Power (LON:ITM) Sets New 1-Year High – Here’s What Happened

ITM Power Plc (LON:ITM) shares reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as GBX 168.90 and last traded at GBX 158.20, with a volume of 7621939 shares trading hands. The stock had previously closed at GBX 162.40.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on ITM shares. Berenberg Bank upped their price objective on shares of ITM Power from GBX 100 to GBX 110 and gave the stock a “buy” rating in a research report on Tuesday, April 14th. UBS Group reissued a “neutral” rating and set a GBX 60 price target on shares of ITM Power in a research report on Friday, January 16th. Two equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, ITM Power currently has an average rating of “Moderate Buy” and an average target price of GBX 95.

ITM Power Trading Down 0.2%

The company has a debt-to-equity ratio of 6.99, a current ratio of 2.62 and a quick ratio of 7.56. The firm has a market capitalization of £998.19 million, a PE ratio of -32.40 and a beta of 2.03. The business’s 50-day moving average price is GBX 81.44 and its 200-day moving average price is GBX 73.65.

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.