ITM Power (LON:ITM) posted its quarterly earnings results on Monday. The company reported GBX (1) (($0.01)) earnings per share (EPS) for the quarter, Bloomberg Earnings reports. The firm had revenue of £174 million for the quarter. ITM Power had a negative net margin of 78.46% and a negative return on equity of 27.86%.
Shares of ITM Power (LON ITM) opened at GBX 33.60 ($0.46) on Monday. The stock has a market capitalization of $109.19 and a P/E ratio of -1,680.00. ITM Power has a 52-week low of GBX 16.62 ($0.23) and a 52-week high of GBX 61.75 ($0.84).
Separately, Investec reissued a “buy” rating and set a GBX 67 ($0.91) price target on shares of ITM Power in a research report on Thursday, November 30th.
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ITM Power Plc designs and manufactures integrated hydrogen energy solutions for energy storage and clean fuel production. The Company has a range of product platforms based on Proton Exchange Membrane (PEM) technology. The Company’s product, HGas, is designed for Power-to-Gas applications. HGas accommodates fluctuating power profiles while generating hydrogen at pressures suitable for either direct injection into natural gas networks or through methanation processes without additional compression.
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