ITM Power (LON:ITM) Posts Earnings Results

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

Shares of ITM Power stock traded up GBX 0.75 ($0.01) during trading hours on Friday, hitting GBX 36.29 ($0.45). 4,013,704 shares of the company’s stock traded hands, compared to its average volume of 2,894,940. The stock has a 50 day simple moving average of GBX 35.68 and a 200-day simple moving average of GBX 43.54. 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 quick ratio of 7.56, a current ratio of 4.17 and a debt-to-equity ratio of 4.73. ITM Power has a twelve month low of GBX 32.20 ($0.40) and a twelve month high of GBX 71.80 ($0.89).

Analyst Ratings Changes

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

Insider Buying and Selling

In related news, insider Simon Bourne acquired 792 shares of the company’s stock in a transaction dated Wednesday, January 15th. The shares were bought at an average price of GBX 38 ($0.47) per share, for a total transaction of £300.96 ($373.77). Insiders have bought a total of 1,605 shares of company stock valued at $60,177 over the last quarter. Corporate insiders own 48.26% of the company’s stock.

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.