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ITM Power ( (GB:ITM) ) just unveiled an update.
ITM Power has entered into a capacity reservation agreement with RWE for 150MW of its NEPTUNE V units, marking significant repeat business with a major industrial partner. This agreement highlights the growing demand for ITM Power’s containerised green hydrogen solutions and underscores RWE’s confidence in ITM’s technology and delivery capabilities, reinforcing ITM’s strategic position in the green hydrogen industry.
The most recent analyst rating on (GB:ITM) stock is a Hold with a £63.00 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.
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 of the London Stock Exchange in 2004, is headquartered in Sheffield, England. The company specializes in designing and manufacturing electrolysers based on proton exchange membrane (PEM) technology to produce green hydrogen using renewable electricity and water.
Average Trading Volume: 3,622,598
Technical Sentiment Signal: Buy
Current Market Cap: £430.9M
For detailed information about ITM stock, go to TipRanks’ Stock Analysis page.