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The latest update is out from ITM Power ( (GB:ITM) ).
ITM Power announced the successful passing of all resolutions at its Annual General Meeting, including the appointment of BDO LLP as the new auditor, effective immediately, replacing Grant Thornton LLP. The meeting also confirmed changes in the board with Sir Warren East and John Howarth joining as Non-Executive Directors, indicating a strategic shift in governance and oversight, potentially impacting the company’s future operations and stakeholder relations.
The most recent analyst rating on (GB:ITM) stock is a Buy with a £1.15 price target. To see the full list of analyst forecasts on ITM Power stock, see the GB:ITM Stock Forecast page.
Spark’s Take on GB:ITM Stock
According to Spark, TipRanks’ AI Analyst, GB:ITM is a Neutral.
The overall score is primarily influenced by financial performance challenges, including profitability and cash flow issues. However, positive developments from the earnings call, such as revenue growth and strategic initiatives, provide some optimism. Technical indicators and valuation metrics remain weak, contributing to a lower overall score.
To see Spark’s full report on GB:ITM stock, click here.
More about ITM Power
ITM Power, founded in 2000 and listed on the AIM market of the London Stock Exchange since 2004, is headquartered in Sheffield, England. The company specializes in designing and manufacturing electrolysers using proton exchange membrane (PEM) technology to produce green hydrogen, a net-zero energy gas, utilizing renewable electricity and water.
Average Trading Volume: 3,691,261
Technical Sentiment Signal: Hold
Current Market Cap: £557.5M
Find detailed analytics on ITM stock on TipRanks’ Stock Analysis page.