ITM Power (LON:ITM) Posts Quarterly Earnings Results

ITM Power (LON:ITM) issued its quarterly earnings results on Friday. The company reported GBX (4.70) (($0.06)) EPS for the quarter, Digital Look Earnings reports. ITM Power had a negative net margin of 164.90% and a negative return on equity of 9.65%.

ITM Power Price Performance

ITM traded up GBX 0.75 ($0.01) on Friday, hitting GBX 36.29 ($0.45). 4,013,704 shares of the company were exchanged, compared to its average volume of 2,894,940. The business’s fifty day moving average is GBX 35.68 and its 200 day moving average is GBX 43.54. ITM Power has a fifty-two week low of GBX 32.20 ($0.40) and a fifty-two week high of GBX 71.80 ($0.89). The company has a debt-to-equity ratio of 4.73, a quick ratio of 7.56 and a current ratio of 4.17. The firm has a market capitalization of £223.81 million, a P/E ratio of -907.30 and a beta of 2.03.

Insider Transactions at ITM Power

In related news, insider Simon Bourne acquired 792 shares of the firm’s stock in a transaction that occurred on Wednesday, January 15th. The shares were acquired at an average price of GBX 38 ($0.47) per share, with a total value of £300.96 ($373.77). Insiders have bought 1,605 shares of company stock valued at $60,177 in the last quarter. 48.26% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

ITM has been the subject of several recent analyst reports. Jefferies Financial Group reaffirmed a “buy” rating and set a GBX 60 ($0.75) price objective on shares of ITM Power in a research report on Friday, December 6th. Berenberg Bank restated a “hold” rating and set a GBX 59 ($0.73) price objective on shares of ITM Power in a research report on Thursday, December 5th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a GBX 70 ($0.87) price target on shares of ITM Power in a research note on Friday, December 6th.

ITM Power Company Profile

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.