ITM Power (LON:ITM) Stock Price Down 7.7% – Should You Sell?

ITM Power Plc (LON:ITM) traded down 7.7% during trading on Thursday . The stock traded as low as GBX 159.80 and last traded at GBX 161.84. 6,527,476 shares changed hands during trading, an increase of 5% from the average session volume of 6,208,333 shares. The stock had previously closed at GBX 175.30.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Berenberg Bank upped their price target on ITM Power from GBX 100 to GBX 110 and gave the company a “buy” rating in a research report on Tuesday, April 14th. Jefferies Financial Group upgraded ITM Power to a “buy” rating and upped their price target for the company from £115 to £200 in a research report on Thursday, May 7th. Two equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, ITM Power has an average rating of “Moderate Buy” and an average target price of GBX 6,723.33.

ITM Power Stock Performance

The company has a 50-day moving average price of GBX 132.94 and a two-hundred day moving average price of GBX 88.94. The stock has a market capitalization of £1.02 billion, a P/E ratio of -29.58 and a beta of 2.76. 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 Company Profile

ITM Power designs and manufactures industrial-scale electrolysers for green hydrogen production. Its proprietary PEM technology, vertically integrated manufacturing, and in-house engineering capabilities enable it to supply standardised, high-performance hydrogen plants.

With a proven track record in large-scale projects, ITM Power helps leading industrial and energy companies achieve their decarbonisation goals. In addition to its equipment offering, the company provides reliable and cost-competitive hydrogen supply through its build, own and operate (BOO) model, Hydropulse.

Headquartered in the UK, ITM Power is listed on the London Stock Exchange AIM (LSE: ITM) and holds the Green Economy Mark, which recognises companies that generate over 50% of their revenues from green products and services.