How are you folks doing today? |
They're buying back |
On r3covery mode |
Another 5 per cent drop this afternoon quite possible..so bad !! |
Future trading is currently bad across the pond. |
 "‘Buy’ ITM power, says Peel Hunt
Peel Hunt has maintained its ‘buy’ recommendation for ITM Power (ITM) after the company cut its anticipated pre-tax profit losses for 2024 by 25%.
Analyst Nick Walker said that the new energy and clean technology company had flagged a pre-tax profit loss of between £39m and £44m in a June trading update, but has since lowered that to between £30m and £32m following the resolution of disputes relating to legacy projects.
‘This continues an improving trend in guidance since August 2023,’ Walker said.
At the mid-point of the range, this newly revised [pre-tax profit] loss is not only 25% lower than guidance in June, but a 35% improvement from January’s guidance, which anticipated a £45m-£50m loss, a 38% improvement on August 2023’s £45m-£50m forecast loss and a 76% improvement on £94.2m loss reported for the 2023 financial year.
Walker said that, with 2024 preliminary results due later this month, he would review forecasts to reflect the recent changes.
‘We maintain our “buy” recommendation and target price of 200p,’ he said. The shares softened 0.3% to 52p at the end of last week." |
More downside when US markets open . |
SNAFU by Fed...again. US economy weak enough to require, at least, a 25bp cut at the recent meeting. Worst case we have a six week wait for the next meeting to cut more or-and more likely-they come back to work early and cut. Either way, I think this is a buying opportunity in a broad range of shares. I added to ITM this morning. |
Looks like short attack buy before they close 😁 |
It's a sell off all-around..we could see 45p again. |
This is classic, from the comments on LI:Cyrus from Plug'A quote from someone who hasn't been to Plug's Gigafactory in Rochester, NY ?That said, good to hear other companies are doing real things, the industry needs it...'Dennis's response: 'Actually, they have been to your factory just before. (Apologies, not even joking...)' |
Moon
Read the last paragraph
It makes the whole ITM Power team incredibly proud to see so many products successfully manufactured, tested and ready for collection by our customers. Every TRIDENT stack skid in this photo is built for a commercial project - not a single one is built to stock. |
Thanks sonic. |
The stock pile that we now have is great when fids come in. Literally they go out instantly .. but as an aside if they sit too long, are we saying the product is at its pinnacle and no more r&d ever takes place? And with no performance figures actually published yet. Or will they become obselete while they wait. It's still vague but itm do present one of the clearer pictures in this vagueness. Personally I like to see finished product ready to ship but after cooleys mess he saw a tidal wave that never occurred in his tenure... and to an extent Dennis has taken that same baton and he's running with it... we do have a seeming tidal wave of maybe/promised orders promises of capacity down the line ... if you fancy it, no pressure or if your backers can sign a fid and get over legislation and all the other hurdles put in front of green hydrogen. Think that were over the worst with itm but need an rns with the lovely word 'order' within it ... and maybe some payment figures with a date. |
New business development manager started for North America 😁 |
A picture is worth a thousand words... And many millions of pounds in this case. |
Latest post from Dennis -
"We have visited many OEMs over recent months as part of our tender process, but it was only today that we were able to finally see a real electrolyser factory." (customer quote)
Many potential customers have been visiting us recently to get a first-hand impression of our capabilities. Feedback has been brilliant throughout, highlighting that this feels very different - and real.
It makes the whole ITM Power team incredibly proud to see so many products successfully manufactured, tested and ready for collection by our customers. Every TRIDENT stack skid in this photo is built for a commercial project - not a single one is built to stock. |
Apologies I mentioned £70 million when in fact its £76 million mostly finished products.
Inventories held increased to £76.8m from £47.0m in the prior year and £58.8m at April 2023. The inventory has largely been processed into finished subsystems and products, with the raw materials balance reducing from £36.0m (H123) to £9.4m (H124). This balance remains an opportunity for ITM to improve working capital through project execution. |
If Bilbo has doubts about what inventory ITM has get him to take a look at the recent photo on LinkedIn |
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