ITM Power plc -18.6% potential downside indicated by Berenberg Bank

ITM Power plc with ticker (LON:ITM) now has a potential downside of -18.6% according to Berenberg Bank.



Berenberg Bank set a target price of 100 GBX for the company, which when compared to the ITM Power plc share price of 119 GBX at opening today (03/02/2023) indicates a potential downside of -18.6%. Trading has ranged between 66 (52 week low) and 441 (52 week high) with an average of 3,418,587 shares exchanging hands daily. The market capitalisation at the time of writing is £691,936,304.

ITM Power plc is an energy storage and clean fuel company. The Company manufactures integrated hydrogen energy solutions for grid balancing, energy storage and the production of renewable hydrogen for transport, renewable heat and chemicals. Its proton exchange membrane (PEM) electrolysers use renewable electricity and water to create green hydrogen through a process called electrolysis. Its electrolysers include HGAS1SP, HGAS3SP and 3MEP CUBE. HGAS1SP is a small containerized PEM electrolyser system and its Plug & Play product includes a single ITM Power PEM electrolyser stack alongside all the necessary sub-systems required to produce self-pressurized green hydrogen gas. HGAS3SP is a medium-sized containerized PEM electrolyser system, and its Plug & Play product includes three ITM Power PEM electrolyser stacks alongside all the necessary sub-systems required to produce self-pressurized green hydrogen gas. 3MEP CUBE is a modular system for large hydrogen production.