ITM Power (LON:ITM) was downgraded by equities research analysts at Berenberg Bank to a “sell” rating in a research note issued on Monday, Analyst Price Targets reports. They presently have a GBX 350 ($4.57) price objective on the stock, down from their prior price objective of GBX 400 ($5.23). Berenberg Bank’s target price suggests a potential downside of 12.15% from the company’s current price.
Other analysts have also issued reports about the company. Citigroup reiterated a “buy” rating on shares of ITM Power in a research report on Thursday, August 19th. JPMorgan Chase & Co. cut their price objective on shares of ITM Power from GBX 700 ($9.15) to GBX 550 ($7.19) and set an “overweight” rating on the stock in a report on Friday, July 16th. Barclays reaffirmed an “overweight” rating and set a GBX 600 ($7.84) target price on shares of ITM Power in a report on Tuesday. reissued a “buy” rating and issued a GBX 800 ($10.45) price target on shares of ITM Power in a research note on Monday, May 24th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a GBX 310 ($4.05) price objective on shares of ITM Power in a research note on Monday, June 14th. One analyst has rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of GBX 535 ($6.99).
LON ITM opened at GBX 398.40 ($5.21) on Monday. The stock has a market capitalization of £2.19 billion and a P/E ratio of -72.44. ITM Power has a 52 week low of GBX 220.50 ($2.88) and a 52 week high of GBX 724 ($9.46). The company has a debt-to-equity ratio of 3.29, a quick ratio of 7.86 and a current ratio of 8.11. The stock has a fifty day moving average of GBX 433.28 and a 200-day moving average of GBX 431.56.
ITM Power Plc designs, manufactures, and sells hydrogen energy systems for energy storage, transportation, and industrial sectors in the United Kingdom, Germany, France, Italy, the Netherlands, and the United States. It offers HGas for power-to-gas, clean fuel, and industrial hydrogen applications. The company is also involved in the research and development of scientific and engineering projects; development and manufacture of prototype products; and sale of electrolysis equipment and hydrogen storage solutions.
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