ITM Power (LON:ITM) Reaches New 12-Month Low – Here’s Why

ITM Power Plc (LON:ITM) shares hit a new 52-week low during trading on Friday . The company traded as low as GBX 31.06 ($0.39) and last traded at GBX 32.28 ($0.41), with a volume of 3346483 shares traded. The stock had previously closed at GBX 32.86 ($0.42).

Wall Street Analyst Weigh In

ITM has been the subject of a number of recent research reports. Jefferies Financial Group restated a “buy” rating and set a GBX 60 ($0.76) price objective on shares of ITM Power in a research note on Friday, December 6th. Royal Bank of Canada restated an “outperform” rating and set a GBX 70 ($0.88) price objective on shares of ITM Power in a research note on Friday, December 6th. Finally, Berenberg Bank reiterated a “hold” rating and set a GBX 59 ($0.75) price target on shares of ITM Power in a research report on Thursday, December 5th.

ITM Power Stock Down 1.8 %

The company has a current ratio of 4.17, a quick ratio of 7.56 and a debt-to-equity ratio of 4.73. The stock has a 50-day simple moving average of GBX 35.53 and a 200-day simple moving average of GBX 41.28. The company has a market cap of £201.18 million, a price-to-earnings ratio of -7.39 and a beta of 2.03.

ITM Power (LON:ITM) last announced its quarterly earnings results on Friday, January 31st. The company reported GBX (4.70) (($0.06)) earnings per share (EPS) for the quarter. ITM Power had a negative return on equity of 9.97% and a negative net margin of 164.90%. As a group, analysts predict that ITM Power Plc will post -8.9214682 EPS for the current year.

Insider Activity

In other news, insider Simon Bourne acquired 792 shares of the business’s stock in a transaction dated Wednesday, January 15th. The stock was acquired at an average price of GBX 38 ($0.48) per share, for a total transaction of £300.96 ($380.24). Insiders bought a total of 1,634 shares of company stock worth $60,382 over the last 90 days. 48.26% of the stock is currently owned by company insiders.

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.