ITM Power (LON:ITM) Price Target Raised to GBX 80

ITM Power (LON:ITM) had its target price boosted by JPMorgan Chase & Co. from GBX 60 to GBX 80 in a research note issued to investors on Wednesday,Digital Look reports. The firm currently has a neutral rating on the stock.

ITM has been the topic of a number of other research reports. Jefferies Financial Group raised shares of ITM Power to a “buy” rating and increased their price target for the stock from £115 to £200 in a research note on Thursday, May 7th. Berenberg Bank lifted their target price on ITM Power from GBX 100 to GBX 110 and gave the company a “buy” rating in a report on Tuesday, April 14th. Two research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, ITM Power currently has a consensus rating of “Moderate Buy” and a consensus price target of GBX 5,062.50.

ITM Power Stock Up 0.6%

ITM opened at GBX 109.90 on Wednesday. ITM Power has a 12 month low of GBX 57.90 and a 12 month high of GBX 219.80. The business has a 50-day moving average of GBX 121.89 and a two-hundred day moving average of GBX 104.47. The company has a debt-to-equity ratio of 6.99, a current ratio of 2.62 and a quick ratio of 7.56. The stock has a market capitalization of £758.53 million, a price-to-earnings ratio of -21.98 and a beta of 2.89.

Insider Transactions at ITM Power

In other news, insider Warren East acquired 172,000 shares of the company’s stock in a transaction dated Monday, June 29th. The shares were bought at an average price of GBX 115 per share, for a total transaction of £197,800. Insiders have purchased a total of 172,565 shares of company stock valued at $19,854,853 over the last three months. 7.89% of the stock is owned by company insiders.

ITM Power Company Profile

ITM Power designs and manufactures industrial-scale electrolysers for green hydrogen production. Its proprietary PEM technology, vertically integrated manufacturing, and in-house engineering capabilities enable it to supply standardised, high-performance hydrogen plants.

With a proven track record in large-scale projects, ITM Power helps leading industrial and energy companies achieve their decarbonisation goals. In addition to its equipment offering, the company provides reliable and cost-competitive hydrogen supply through its build, own and operate (BOO) model, Hydropulse.

Headquartered in the UK, ITM Power is listed on the London Stock Exchange AIM (LSE: ITM) and holds the Green Economy Mark, which recognises companies that generate over 50% of their revenues from green products and services.