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ITM Itm Power Plc

54.00
-1.24 (-2.24%)
04 Mar 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Itm Power Plc LSE:ITM London Ordinary Share GB00B0130H42 ORD 5P
  Price Change % Change Share Price Shares Traded Last Trade
  -1.24 -2.24% 54.00 847,669 16:35:06
Bid Price Offer Price High Price Low Price Open Price
53.58 53.92 55.20 53.60 55.16
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Electrical Machy, Equip, Nec 5.23M -101.2M -0.1641 -3.29 332.62M
Last Trade Time Trade Type Trade Size Trade Price Currency
18:06:56 O 1,550 53.94 GBX

Itm Power (ITM) Latest News

Itm Power (ITM) Discussions and Chat

Itm Power (ITM) Most Recent Trades

Trade Time Trade Price Trade Size Trade Value Trade Type
2024-03-04 18:07:0953.941,550836.07O
2024-03-04 18:03:4353.993,4531,864.27O
2024-03-04 17:58:3755.163,4051,878.20O
2024-03-04 17:54:1654.259,8825,360.69O
2024-03-04 17:37:1954.0744,83524,242.73O

Itm Power (ITM) Top Chat Posts

Top Posts
Posted at 04/3/2024 08:20 by Itm Power Daily Update
Itm Power Plc is listed in the Electrical Machy, Equip, Nec sector of the London Stock Exchange with ticker ITM. The last closing price for Itm Power was 55.24p.
Itm Power currently has 616,882,323 shares in issue. The market capitalisation of Itm Power is £332,622,949.
Itm Power has a price to earnings ratio (PE ratio) of -3.29.
This morning ITM shares opened at 55.16p
Posted at 22/2/2024 04:11 by moontheloon
USA?UBS sees upside at Ceres Power, ITM PowerPublished:¬†09:31 21 Feb 2024 ESTWritten by:¬†Oliver HaillAbout this contentViewCeres Power Holdings PLCLSE:CWROTC:CPWHF?UBS has initiated coverage on a trio of hydrogen specialist companies, London-listed pair Ceres Power and ITM Power¬†and Norway's Nel.¬†Ceres Power¬†was started off with a 'buy' rating, praising its high-margin licensing business model within the solid oxide fuel cells (SOFC) and electrolysers (SOEC) sector.The firm's credibility, which had been shaken by partnership delays in 2023, received a significant boost with Delta Electronics' £43 million licence acquisition on January 18, 2024, propelling shares up by 38%.UBS is buoyant about Ceres' future, underpinned by management's confidence in securing more deals in 2024, and sees another fundraise as "unlikely".The rating comes with a price target of 450p per share based on a sum-of-the-parts valuation, with UBS's base case being that another licence is added by the end of next year, "likely" to be Weichai Power in China, potentially increasing revenue by approximately 31% in 2025.Global hydrogen subsidy schemes of around $36 billion¬†could accelerate the addition of an SOEC partner by 2025, enhancing revenue forecasts and advancing EBITDA breakeven, the bank said."We think new partners will be attracted to an SO?market estimated at $2.3 trillion by 2030, yet we only find two credible manufacturers (excluding Ceres partners)," UBS said, noting that¬†solid oxide technology takes around 15-20 years to develop¬†at an R&D cost of roughly £245-660 million.This mean, UBS said, "new entrants risk missing scale-up in the hydrogen market to 2040 versus¬†a ~£43 million licence from Ceres, and be selling a product in 2-3 years".In a separate note, UBS started¬†ITM Power PLC (AIM:ITM)¬†with a 'neutral' rating and a 65p price target,¬†acknowledging the company's ongoing turnaround efforts and the potential for upside upon order momentum resumption."There is upside potential to valuation when order momentum restarts after the turnaround. But consensus also has not seen the last downgrade in our view with elevated FY26 expectations," the bank said.Despite operational improvements under new leadership, UBS remains cautious, projecting limited opportunities for 2025 consensus upgrades and noting the industry's preference for alkaline water electrolysis (AWE) over polymer electrolyte membrane (PEM) technology.The firm's valuation is underpinned by a detailed DCF analysis, highlighting ITM's differentiated technology and its potential to lead in PEM efficiency and hydrogen production cost-effectiveness.
Posted at 15/2/2024 21:15 by gimmethefax
We don't always have to agree, but its good when we do; there are none better placed.

Nice surprises are always welcomed, so I agree, understating things would be pretty norm, for a business man of quality - always better to over-deliver.


Cost is becoming more and more important, and, as you know better than any, the uniqueness of the ITM stack puts ITM ahead in that regard. They can't compete. Dennis shares with us that the competition are raising prices, ITM didn't have to - evidence. I would say ITM will indeed raise prices over time, but this is our advantage - best in class - with the freedom to squeeze.

As GW highlights on the other thread, Plug Power ('the behemoth', the hydrogen darling, lol) is a full year behind working through teething issues, and still seem to be coming down from the fantastical hype that came with all things green hydrogen (it got us all).

They all might get squeezed out if pricing becomes super competitive. They just can't compete.


Did we get status updates for Leuna and/or Yara reference plants? ... Forgive me, I did watch the presentation, but was on the go so didn't really catch it all properly.
Posted at 12/2/2024 10:35 by gerbil control
Thanatos Abyss12 Feb '24 - 10:34 - 6887 of 6888
0 0 0
Wtf is going in here????

All I can see is ITM share price pulling a fast one today, and some Sheedy is revered

😂
Posted at 12/2/2024 10:34 by thanatos abyss
Wtf is going in here????

All I can see is ITM share price pulling a fast one today, and some Sheedy is revered
Posted at 06/2/2024 00:07 by danvandan
A lot of after hours trades above the UT price. Big buying by the look of things. I agree - 'overbought' is not an appropriate term here. If anything the shares were massively oversold. The shareprice is still barely at net asset value. The company has £250m in cash earning interest of £12.6m, plus millions in stock and materials. The IP, trained workforce, customer relationships, market dominance and future pipeline are all discounted to nothing. Current market cap; £380m.

For a new sector which is key to energy, especially now that Putin has shown the urgent need for energy independence to the UK and Europe, the valuation is ludicrously low. I think that it might be useful to recognise that the shareprice has been manipulated down by hedgefund shorters who have had things their own way for far too long. Now the market is getting involved.

If you want a chartist view, British Bulls is as good as anything (it's all tea leaves, right?).



Our system’s recommendation today is to STAY LONG. The previous BUY signal was issued on 31/01/2024, 5 days ago, when the stock price was 51.52. Since then ITM.L has risen by +27.95%.
You may relax since our STAY LONG position is secure. The share price is above the confirmation level, and we still have the scope to let the profits run. The market action does not cast a serious doubt on the wisdom of going long.
Posted at 05/2/2024 14:55 by danvandan
LaMorgan3 Feb '24 - 22:45 - 31137 of 31177
0 6 0

Something for the brokers and analysts to consider; the post after this one lists the HAR1 funding awards (HAR1 is mentioned in passing in the ITM results presentation). The HAR1 results were announced in December. HAR1 is govt funding to subsidise the cost of hydrogen projects - it doesn't pay for the whole project - it's a contribution to reduce the cost of the green hydrogen so that it can be sold to customers at less than the fossil-fuel equivalent, making carbon-zero the best economic option.

HAR1 involves smaller projects, though some of these have potential to become large projects (200mw and more). HAR2 is for bigger projects and applications will be in by mid-April this year. Some of the original HAR1 applicants withdrew from that funding application so that they can apply for HAR2.

The HAR1 projects look like they COULD account for substantial yearly revenue for ITM; my guess is that these projects alone might be worth around ten to twenty times ITM's revenue for the current year. Anyone with an INFORMED view on this? Presumably an ITM electrolyser comes with a service and maintenance contract. I imagine they have telemetry that lets ITM know when a problem is emerging before their customer calls them. Also they seem to upgrade older units. I've seen a few numbers on contract values in the press from a few years back - am guessing prices have come down since then.

Most of the HAR1 projects could use ITM units. They're not the only suppliers of this technology, but ITM is UK-based with a class-leading product and a technical workforce within driving distance. Buying Chinese seems risky (if they invade Taiwan they'll likely end up embargoed like the Russians). The European firms (Siemens etc) seem to be closer competitors. But if ITM only manages to achieve its current market share (33% in Europe) in its home market, it might more than double revenue from HAR1 projects alone. I expect we will hear contract announcements throughout this year that give an indication on revenue.
Posted at 05/2/2024 14:20 by danvandan
Rising volume and a rising price. 8m shares already which beats Friday's volume. Nothing to stop this from getting to £1 now. Newsflow from ITM will see it go well beyond that.

I expect the oil majors (BP more than the others) to try to take a stake in ITM. There's already a connection with Shell. The opportunity might not be there right now, but if they ever need to finance expansion, there are investors ready to dive in. Opportunistic takeover bids? ITM will likely never be at this price again. If anyone were to try, it'd put a rocket under this share price

But any news of a deal to supply electrolysers to a large H2 site right now will propel the share price hugely.
Posted at 04/2/2024 13:16 by moontheloon
Skinny your content from your cowie link hidden behind a paywall for non times reading subscribing gentry.ITM's £45m loss is a win for investorsIt's not every day that a share price spikes 25 per cent higher on guidance that the firm expects to lose less money than formerly feared but that's what happened to one of my most controversial stocks last week.Step forward ITM Power (ITM), the Sheffield-based business that splits hydrogen out of water with electricity created by wind farms. How green and clean is that?Sad to say, making profits has proved more elusive than producing explosive gas for ITM, in which I first bought shares at 41p in January 2010. News that the global industrial gases giant Linde had invested £38 million in the Yorkshire tiddler prompted me to put in 2 per cent of my life savings at 124p in January 2020.When I reported that investment, such scorn was heaped on me that it is a shame those chemistry experts deleted their more inadvertently amusing online comments after ITM's share price hit 534p in January 2021 and I reported taking profits here. Having withdrawn much more cash than I put in, I was relaxed when Mr Market lost his taste for "jam tomorrow" stories and these shares fell from favour.However, change is the only constant on the exchange and Wednesday's news that ITM now expects a £45 million loss with revenues 19 per cent higher than it forecast way back in December caused the shares to surge from 48p to 60p. This stock is totally unsuitable for anyone who will be rattled by short-term volatility but might yet turn into a real northern renewable powerhouse
Posted at 04/2/2024 08:58 by norbus
A worthy post by LaMorgan

Something for the brokers and analysts to consider; the post after this one lists the HAR1 funding awards (HAR1 is mentioned in passing in the ITM results presentation). The HAR1 results were announced in December. HAR1 is govt funding to subsidise the cost of hydrogen projects - it doesn't pay for the whole project - it's a contribution to reduce the cost of the green hydrogen so that it can be sold to customers at less than the fossil-fuel equivalent, making carbon-zero the best economic option.

HAR1 involves smaller projects, though some of these have potential to become large projects (200mw and more). HAR2 is for bigger projects and applications will be in by mid-April this year. Some of the original HAR1 applicants withdrew from that funding application so that they can apply for HAR2.

The HAR1 projects look like they COULD account for substantial yearly revenue for ITM; my guess is that these projects alone might be worth around ten to twenty times ITM's revenue for the current year. Anyone with an INFORMED view on this? Presumably an ITM electrolyser comes with a service and maintenance contract. I imagine they have telemetry that lets ITM know when a problem is emerging before their customer calls them. Also they seem to upgrade older units. I've seen a few numbers on contract values in the press from a few years back - am guessing prices have come down since then.

Most of the HAR1 projects could use ITM units. They're not the only suppliers of this technology, but ITM is UK-based with a class-leading product and a technical workforce within driving distance. Buying Chinese seems risky (if they invade Taiwan they'll likely end up embargoed like the Russians). The European firms (Siemens etc) seem to be closer competitors. But if ITM only manages to achieve its current market share (33% in Europe) in its home market, it might more than double revenue from HAR1 projects alone. I expect we will hear contract announcements throughout this year that give an indication on revenue.
LaMorgan3 Feb '24 - 22:48 - 31138 of 31140
0 2 0
LIST OF SUCCESSFUL HAR1 PROJECTS
Sources: UK Department for Energy Security and Net-Zero, S&P Global Commodity Insights

Project name: Barrow Green Hydrogen.
Developers: Carlton Power; Schroders Greencoat.
Expected users: Kimberly-Clark manufacturing facility (consumer goods)

The development will have an initial capacity of 35 MW, which will produce enough hydrogen to heat the equivalent of 14,000 homes. The project has the potential to expand to several hundred megawatts.


Project name: Bradford Low Carbon Hydrogen
Developers: Hygen Energy; Northern Gas Networks; Ryze Hydrogen
Capacity: 24.5MW
Expected users: Transport and industry


Project name: Cromarty Hydrogen
Developers: Scottish Power; Storegga
Expected users: Whisky distilleries
cromartyhydrogenproject.co.uk [The link won't display]

Project name: Green Hydrogen 3
Developers: HYRO Energy (RES and Octopus Energy Generation)
Expected users: Kimberly-Clark manufacturing facility (consumer goods)
News article, middle of last yr:


Project name: HyBont
Developers: Marubeni Europower
Expected users: Transport and industry
hybont.co.uk [link won't display]

Project name: Langage Green Hydrogen
Developers: Carlton Power; Schroders Greencoat
Expected users: Imerys and Sibelco production facilities (mining and materials)

The development will have an initial capacity of 10 MW, which will produce enough hydrogen to heat the equivalent of 14,000 homes.

Project name: Tees Green Hydrogen
Developers: EDF Renewables Hydrogen
Expected users: Industry


Project name: Trafford Green Hydrogen
Developers: Carlton Power; Schroders Greencoat
Expected users: Transport and industry

Trafford Green Hydrogen is an industry leading project, that will use renewable energy to produce green hydrogen fuel for industry, transport and heating. The development will have an ultimate capacity of 200MW, which will be sufficient to take around 8,000 petrol cars off the road annually. The initial phase will be 20MW.

Project name: West Wales Hydrogen
Developers: H2 Energy Europe (H2 Energy and Trafigura Group)
Expected users: Industry

With a capacity of 20 MWe, the plant will convert renewable energy into green hydrogen.

Project name: Whitelee Green Hydrogen
Developers: Scottish Power
Expected users: Transport and industry

The solar farm to the north of the site will provide 20MW of renewable solar generation across 62,000 individual solar cells, which will power the Green Hydrogen Production Facility. This Facility will use electrolysis to create hydrogen using water and will allow us to produce up to 10 tonnes of Green Hydrogen per day.

I left out the HyMarnham project because it's 'low carbon' hydrogen, using a gas process rather than electrolysers.
LaMorgan3 Feb '24 - 23:09 - 31139 of 31140
0 2 0
Most of the HAR1 projects seem to be awaiting planning permission - the few that are showing timelines suggest completion towards the end of this year or early next year.

These projects are not all that is happening - they're just a few in the UK that have been awarded a little govt support to give them traction. ITM are selling their units worldwide. The increase in revenue that ITM achieved in H1 looks like the start of exponential growth.

Someone was talking about fuel cells on this thread. The HAR1 projects will produce electrolysed hydrogen for transport and industry; some will refuel hydrogen-cell powered vehicles, especially buses and lorries but also private vehicles, and some is to be burned as gas in industrial production. The project descriptions in the links give usage details.
Posted at 03/2/2024 22:45 by lamorgan
Something for the brokers and analysts to consider; the post after this one lists the HAR1 funding awards (HAR1 is mentioned in passing in the ITM results presentation). The HAR1 results were announced in December. HAR1 is govt funding to subsidise the cost of hydrogen projects - it doesn't pay for the whole project - it's a contribution to reduce the cost of the green hydrogen so that it can be sold to customers at less than the fossil-fuel equivalent, making carbon-zero the best economic option.

HAR1 involves smaller projects, though some of these have potential to become large projects (200mw and more). HAR2 is for bigger projects and applications will be in by mid-April this year. Some of the original HAR1 applicants withdrew from that funding application so that they can apply for HAR2.

The HAR1 projects look like they COULD account for substantial yearly revenue for ITM; my guess is that these projects alone might be worth around ten to twenty times ITM's revenue for the current year. Anyone with an INFORMED view on this? Presumably an ITM electrolyser comes with a service and maintenance contract. I imagine they have telemetry that lets ITM know when a problem is emerging before their customer calls them. Also they seem to upgrade older units. I've seen a few numbers on contract values in the press from a few years back - am guessing prices have come down since then.

Most of the HAR1 projects could use ITM units. They're not the only suppliers of this technology, but ITM is UK-based with a class-leading product and a technical workforce within driving distance. Buying Chinese seems risky (if they invade Taiwan they'll likely end up embargoed like the Russians). The European firms (Siemens etc) seem to be closer competitors. But if ITM only manages to achieve its current market share (33% in Europe) in its home market, it might more than double revenue from HAR1 projects alone. I expect we will hear contract announcements throughout this year that give an indication on revenue.
Itm Power share price data is direct from the London Stock Exchange

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