Berenberg Bank Reaffirms Buy Rating for ITM Power (LON:ITM)

ITM Power (LON:ITM)‘s stock had its “buy” rating reiterated by research analysts at Berenberg Bank in a research report issued to clients and investors on Thursday, Marketbeat Ratings reports. They presently have a GBX 100 price target on the stock. Berenberg Bank’s price objective indicates a potential upside of 44.93% from the stock’s current price.

Separately, Jefferies Financial Group upped their price target on ITM Power from GBX 60 to GBX 115 and gave the stock a “buy” rating in a research report on Wednesday, October 1st. Two research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, ITM Power presently has an average rating of “Moderate Buy” and an average price target of GBX 107.50.

ITM Power Stock Down 2.3%

ITM stock opened at GBX 69 on Thursday. The company has a debt-to-equity ratio of 4.73, a current ratio of 4.17 and a quick ratio of 7.56. The stock has a market capitalization of £425.16 million, a P/E ratio of -9.32 and a beta of 2.03. ITM Power has a fifty-two week low of GBX 25.08 and a fifty-two week high of GBX 98.45. The business has a 50-day moving average of GBX 77.93 and a 200-day moving average of GBX 72.34.

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.