RE: Contracts for feedstocks3 Jan 2025 20:53
In terms of valuation, I often find with a lot of new tech end up valued higher in their early phases of development and then once commercial and selling product, often fall back from previous highs.
Sounds daft, but analysts can see the sales pipeline, along with the P&L etc and then work out a truer value for the business.
In terms of ITM, they are a victim of the H2 bubble, but had a double whammy after they announced a restructuring process a massive right down, coupled with forecasted losses for the next couple of years. Once that is out of the way, they will probably head back up.
As 15 has said (clearly knows more about PHE and the industry as a whole than Castle), ITM have around £180 to£200m in the bank, so you could say are massively undervalued on that alone.