Shares of ITM Power Plc (LON:ITM – Get Rating) crossed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of GBX 280.77 ($3.44) and traded as low as GBX 201.10 ($2.46). ITM Power shares last traded at GBX 203.80 ($2.50), with a volume of 1,568,210 shares traded.
Wall Street Analysts Forecast Growth
A number of equities analysts recently issued reports on ITM shares. Berenberg Bank reduced their target price on ITM Power from GBX 225 ($2.76) to GBX 185 ($2.27) and set a “sell” rating for the company in a research note on Monday, June 20th. Morgan Stanley reiterated an “equal weight” rating and set a GBX 470 ($5.76) price objective on shares of ITM Power in a research note on Tuesday, May 3rd. Sanford C. Bernstein set a GBX 370 ($4.53) price objective on ITM Power in a research note on Wednesday, May 18th. Barclays reiterated an “overweight” rating and set a GBX 600 ($7.35) price objective on shares of ITM Power in a research note on Friday, May 6th. Finally, Royal Bank of Canada upgraded ITM Power to an “outperform” rating and lifted their price objective for the company from GBX 300 ($3.68) to GBX 500 ($6.13) in a research note on Wednesday, April 13th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of GBX 472 ($5.78).
ITM Power Price Performance
The company has a current ratio of 5.94, a quick ratio of 5.59 and a debt-to-equity ratio of 3.59. The stock has a market capitalization of £1.25 billion and a price-to-earnings ratio of -35.75. The stock has a 50-day moving average price of GBX 217.62 and a 200 day moving average price of GBX 280.77.
ITM Power Company Profile
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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