ITM Power (LON:ITM) Announces Earnings Results

ITM Power (LON:ITM) issued its 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 Stock Performance

LON ITM traded up GBX 0.75 ($0.01) during trading hours on Friday, reaching GBX 36.29 ($0.45). 4,013,704 shares of the company were exchanged, compared to its average volume of 2,894,940. The company has a quick ratio of 7.56, a current ratio of 4.17 and a debt-to-equity ratio of 4.73. The stock has a market capitalization of £223.81 million, a P/E ratio of -907.30 and a beta of 2.03. ITM Power has a 1 year low of GBX 32.20 ($0.40) and a 1 year high of GBX 71.80 ($0.89). The business’s 50 day simple moving average is GBX 35.68 and its 200-day simple moving average is GBX 43.54.

Insiders Place Their Bets

In other news, insider Simon Bourne acquired 792 shares of the business’s stock in a transaction dated Wednesday, January 15th. The stock was bought at an average cost of GBX 38 ($0.47) per share, for a total transaction of £300.96 ($373.77). Insiders acquired 1,605 shares of company stock worth $60,177 over the last quarter. 48.26% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities analysts have issued reports on ITM shares. Royal Bank of Canada restated an “outperform” rating and issued a GBX 70 ($0.87) price target on shares of ITM Power in a research report on Friday, December 6th. Berenberg Bank reaffirmed a “hold” rating and issued a GBX 59 ($0.73) price objective on shares of ITM Power in a research note on Thursday, December 5th. Finally, Jefferies Financial Group reissued a “buy” rating and set a GBX 60 ($0.75) target price 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.