ITM Power (LON:ITM) Announces Quarterly Earnings Results

ITM Power (LON:ITM) released its quarterly earnings data on Friday. The company reported GBX (4.70) (($0.06)) earnings per share 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 Trading Up 2.1 %

LON:ITM opened at GBX 36.29 ($0.45) on Friday. The company has a 50 day simple moving average of GBX 35.70 and a two-hundred day simple moving average of GBX 43.36. The company has a market cap of £223.81 million, a PE ratio of -907.30 and a beta of 2.03. The company has a current ratio of 4.17, a quick ratio of 7.56 and a debt-to-equity ratio of 4.73. ITM Power has a 12 month low of GBX 32.20 ($0.40) and a 12 month high of GBX 71.80 ($0.89).

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on ITM. Jefferies Financial Group reissued a “buy” rating and set a GBX 60 ($0.74) price target on shares of ITM Power in a research report on Friday, December 6th. Berenberg Bank restated a “hold” rating and issued a GBX 59 ($0.73) price target on shares of ITM Power in a research note on Thursday, December 5th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a GBX 70 ($0.87) price objective on shares of ITM Power in a research report on Friday, December 6th.

Insider Activity

In other ITM Power news, insider Simon Bourne bought 792 shares of the business’s stock in a transaction that occurred on 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 ($372.98). Insiders have bought 1,605 shares of company stock valued at $60,177 in the last ninety 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.