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An announcement from ITM Power ( (GB:ITM) ) is now available.
ITM Power has secured two significant engineering contracts, one for a Basic Design Engineering Package in Australia and another for a Front-End Engineering Design project in Canada, with a combined capacity of 70 MW. These contracts will utilize ITM’s NEPTUNE V containerised green hydrogen production plants, marking a strategic expansion into the Australian and Canadian markets and reinforcing ITM’s position in the green hydrogen industry.
The most recent analyst rating on (GB:ITM) stock is a Hold with a £68.00 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.
ITM Power’s overall stock score is primarily influenced by its financial performance challenges, including negative profitability and cash flow issues. While the earnings call provided positive insights into future growth and strategic initiatives, the current technical indicators and valuation metrics reflect a cautious outlook. The company’s strong revenue growth and contract backlog are positive, but operational inefficiencies and market challenges remain significant concerns.
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 of the London Stock Exchange in 2004, is headquartered in Sheffield, England. The company specializes in designing and manufacturing electrolysers using proton exchange membrane (PEM) technology to produce green hydrogen from renewable electricity and water, positioning itself as a leader in net zero energy gas solutions.
Average Trading Volume: 2,902,197
Technical Sentiment Signal: Sell
Current Market Cap: £402.5M
For a thorough assessment of ITM stock, go to TipRanks’ Stock Analysis page.