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ITM Power ( (GB:ITM) ) has provided an update.
ITM Power has signed a Front-End Engineering Design (FEED) contract for the NEPTUNE V project, which is part of the UK’s Hydrogen Allocation Round 2 (HAR2). The project involves multiple 5MW containerised green hydrogen plants and is expected to be operational by 2028, pending a Final Investment Decision. This contract highlights the NEPTUNE V’s position as a leading solution for mid-scale green hydrogen projects, potentially strengthening ITM Power’s market presence and offering significant implications for stakeholders involved in the green hydrogen sector.
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, headquartered in Sheffield, England, is a company that designs and manufactures electrolysers based on proton exchange membrane (PEM) technology. These electrolysers are used to produce green hydrogen, a net zero energy gas, using renewable electricity and water. The company was founded in 2000 and was listed on the AIM of the London Stock Exchange in 2004.
Average Trading Volume: 3,561,885
Technical Sentiment Signal: Buy
Current Market Cap: £487.7M
For a thorough assessment of ITM stock, go to TipRanks’ Stock Analysis page.