ITM Power plc -2.9% potential downside indicated by Berenberg Bank

ITM Power plc with ticker (LON:ITM) now has a potential downside of -2.9% according to Berenberg Bank.



Berenberg Bank set a target price of 300 GBX for the company, which when compared to the ITM Power plc share price of 309 GBX at opening today (20/01/2022) indicates a potential downside of -2.9%. Trading has ranged between 307 (52 week low) and 724 (52 week high) with an average of 2,776,326 shares exchanging hands daily. The market capitalisation at the time of writing is £2,014,837,225.

ITM Power Plc is a United Kingdom-based company, which is engaged in manufacturing integrated hydrogen energy solutions. The Company provides solutions for grid balancing, energy storage and the production of renewable hydrogen for transport, renewable heat and chemicals. The Company has a range of product platforms based on Proton Exchange Membrane (PEM) technology. The Company’s products include HGas1SP, HGas2SP and HGasXMW. HGas1SP is a smallest containerised PEM electrolyser system. The HGas1SP Plug Play product includes a single ITM Power PEM electrolyser stack to produce self-pressurised hydrogen gas. Its HGas2SP Plug Play product includes two ITM power PEM electrolyser stacks to produce self-pressurised hydrogen gas. The HgasXMW product is an electrolyser system built based on modules of three ITM power stacks. It is suitable for hydrogen fuel stations of truck, train and marine, refinery hydrogen, decarbonising heat and grid balancing markets.