ITM Power (LON:ITM) Hits New 12-Month Low – What’s Next?

ITM Power Plc (LON:ITM)’s stock price hit a new 52-week low on Thursday . The company traded as low as GBX 28.52 ($0.36) and last traded at GBX 28.70 ($0.36), with a volume of 1977637 shares changing hands. The stock had previously closed at GBX 29.28 ($0.37).

Wall Street Analyst Weigh In

A number of research firms have issued reports on ITM. Royal Bank of Canada restated an “outperform” rating and set a GBX 70 ($0.89) target price on shares of ITM Power in a research report on Friday, December 6th. Jefferies Financial Group reiterated a “buy” rating and set a GBX 60 ($0.76) target price on shares of ITM Power in a research note on Friday, December 6th. Finally, Berenberg Bank restated a “hold” rating and set a GBX 59 ($0.75) price objective on shares of ITM Power in a research report on Thursday, December 5th.

ITM Power Trading Down 2.0 %

The firm has a market capitalization of £178.85 million, a P/E ratio of -6.57 and a beta of 2.03. The firm has a 50-day moving average of GBX 35.31 and a 200-day moving average of GBX 40.82. 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 (LON:ITM) last posted its quarterly earnings results on Friday, January 31st. The company reported GBX (4.70) (($0.06)) 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 anticipate that ITM Power Plc will post -8.9214682 EPS for the current fiscal year.

Insider Activity at ITM Power

In other ITM Power news, insider Simon Bourne bought 792 shares of ITM Power stock in a transaction that occurred on Wednesday, January 15th. The stock was purchased at an average price of GBX 38 ($0.48) per share, with a total value of £300.96 ($381.69). In the last ninety days, insiders have bought 1,634 shares of company stock worth $60,382. Insiders own 48.26% 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.