ITM Power Plc (LON:ITM) Receives Consensus Rating of “Buy” from Brokerages

ITM Power Plc (LON:ITMGet Rating) has been given a consensus recommendation of “Buy” by the eight ratings firms that are presently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and five have issued a buy recommendation on the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is GBX 486.57 ($5.91).

Several analysts recently weighed in on ITM shares. Sanford C. Bernstein set a GBX 370 ($4.49) price target on shares of ITM Power in a report on Wednesday, May 18th. Citigroup reiterated a “buy” rating and set a GBX 550 ($6.68) price target on shares of ITM Power in a research report on Wednesday, March 9th. Morgan Stanley restated an “equal weight” rating and issued a GBX 470 ($5.70) price objective on shares of ITM Power in a report on Tuesday, May 3rd. Royal Bank of Canada raised ITM Power to an “outperform” rating and increased their target price for the stock from GBX 300 ($3.64) to GBX 500 ($6.07) in a research report on Wednesday, April 13th. Finally, JPMorgan Chase & Co. restated an “overweight” rating on shares of ITM Power in a research report on Wednesday, April 20th.

ITM Power stock traded up GBX 8.30 ($0.10) during trading hours on Friday, reaching GBX 214.10 ($2.60). The stock had a trading volume of 3,332,874 shares, compared to its average volume of 3,493,171. The company has a fifty day simple moving average of GBX 299.80 and a 200-day simple moving average of GBX 325.35. ITM Power has a 52 week low of GBX 201.40 ($2.44) and a 52 week high of GBX 536.15 ($6.51). The stock has a market cap of £1.31 billion and a PE ratio of -37.56. The company has a debt-to-equity ratio of 3.59, a current ratio of 5.94 and a quick ratio of 5.59.

About ITM Power (Get Rating)

ITM Power Plc designs, manufactures, and sells hydrogen energy systems for energy storage, transportation, and industrial sectors in the United Kingdom, Germany, rest of Europe, and the United States. It offers HGas for power-to-gas, clean fuel, and industrial hydrogen applications. The company is also involved in the development and manufacture of prototype products; and sale of electrolysis equipment and hydrogen storage solutions.

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Analyst Recommendations for ITM Power (LON:ITM)

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