ITM Power (LON:ITM) Stock Crosses Below Two Hundred Day Moving Average – Here’s What Happened

ITM Power Plc (LON:ITM) crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 69.26 and traded as low as GBX 61.50. ITM Power shares last traded at GBX 63.10, with a volume of 10,006,277 shares trading hands.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. UBS Group restated a “neutral” rating and issued a GBX 60 price objective on shares of ITM Power in a report on Friday, January 16th. Berenberg Bank reiterated a “buy” rating and set a GBX 100 target price on shares of ITM Power in a report on Thursday, January 29th. Two analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of GBX 91.67.

ITM Power Stock Down 2.5%

The firm has a market capitalization of £381.41 million, a P/E ratio of -12.38 and a beta of 2.27. The company has a fifty day simple moving average of GBX 63.70 and a 200 day simple moving average of GBX 69.22. The company has a quick ratio of 7.56, a current ratio of 2.62 and a debt-to-equity ratio of 6.99.

ITM Power (LON:ITM) last issued its quarterly earnings results on Thursday, January 29th. The company reported GBX (2.30) earnings per share for the quarter. ITM Power had a negative net margin of 108.00% and a negative return on equity of 14.17%. On average, equities analysts expect that ITM Power Plc will post -8.9214682 EPS for the current fiscal year.

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.