ITM Power (LON:ITM) Shares Down 9.2% – Here’s Why

ITM Power Plc (LON:ITM) traded down 9.2% during trading on Friday . The stock traded as low as GBX 66.30 ($0.90) and last traded at GBX 66.99 ($0.91). 6,830,110 shares changed hands during mid-day trading, an increase of 48% from the average session volume of 4,625,868 shares. The stock had previously closed at GBX 73.80 ($1.00).

Analyst Ratings Changes

A number of research firms have recently issued reports on ITM. JPMorgan Chase & Co. restated a “neutral” rating on shares of ITM Power in a research report on Monday, July 28th. Berenberg Bank restated a “buy” rating and issued a GBX 100 ($1.36) target price on shares of ITM Power in a research note on Thursday.

ITM Power Stock Down 7.6%

The business has a 50 day moving average of GBX 74.05 and a 200 day moving average of GBX 48.63. The company has a debt-to-equity ratio of 4.73, a current ratio of 4.17 and a quick ratio of 7.56. The firm has a market capitalization of £425.00 million, a price-to-earnings ratio of -15.60 and a beta of 2.03.

ITM Power (LON:ITM) last issued its earnings results on Thursday, August 14th. The company reported GBX (7.40) (($0.10)) 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 analysts anticipate 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.