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The ITM share price is up more than 250% in the last year! Should I buy the shares now?

first_imgThe ITM share price is up more than 250% in the last year! Should I buy the shares now? I’m sure you’ll agree that’s quite the statement from Motley Fool Co-Founder Tom Gardner.But since our US analyst team first recommended shares in this unique tech stock back in 2016, the value has soared.What’s more, we firmly believe there’s still plenty of upside in its future. In fact, even throughout the current coronavirus crisis, its performance has been beating Wall St expectations.And right now, we’re giving you a chance to discover exactly what has got our analysts all fired up about this niche industry phenomenon, in our FREE special report, A Top US Share From The Motley Fool. Image source: Getty Images Our 6 ‘Best Buys Now’ Shares Simply click below to discover how you can take advantage of this. Renowned stock-picker Mark Rogers and his analyst team at The Motley Fool UK have named 6 shares that they believe UK investors should consider buying NOW.So if you’re looking for more stock ideas to try and best position your portfolio today, then it might be a good day for you. Because we’re offering a full 33% off your first year of membership to our flagship share-tipping service, backed by our ‘no quibbles’ 30-day subscription fee refund guarantee. Click here to claim your copy now — and we’ll tell you the name of this Top US Share… free of charge! “This Stock Could Be Like Buying Amazon in 1997”center_img Conor Coyle | Monday, 22nd February, 2021 | More on: ITM conorcoyle has no position in any of the shares mentioned. The Motley Fool UK owns shares of and has recommended Tesla. Views expressed on the companies mentioned in this article are those of the writer and therefore may differ from the official recommendations we make in our subscription services such as Share Advisor, Hidden Winners and Pro. Here at The Motley Fool we believe that considering a diverse range of insights makes us better investors. Clean and renewable energy companies could be among the biggest stocks to watch in 2021 and beyond. As the UK edges towards its 2050 target of carbon neutral emissions, companies both inside and outside the energy sector will have to think about alternative energy usage.Just last week I picked two green energy stocks that I would add to my portfolio. ITM Power (LSE:ITM) is another renewable company that has seen incredible growth over the last few years. The ITM share price has grown a massive 258% in the last 12 months. That comes during a time when many UK stocks have struggled due to the impact of the pandemic. That growth is more impressive over the last five years. The ITM share price has grown by 4,366% in that time. 5G is here – and shares of this ‘sleeping giant’ could be a great way for you to potentially profit!According to one leading industry firm, the 5G boom could create a global industry worth US$12.3 TRILLION out of thin air…And if you click here we’ll show you something that could be key to unlocking 5G’s full potential…However, the company saw its stock drop more than 20% following disappointing half-year results last month. So can ITM shares keep growing or was that the beginning of a more significant slump in its fortunes?Loss makingITM designs and manufactures products that generate hydrogen fuel, which can be used for vehicles as well as energy storage and industrial purposes. Much like Elon Musk’s Tesla, ITM has generated an impressive market cap of more than £3bn, despite annual revenues of just £3m and widening losses.Investors have clearly bought into the company’s technology for the long term, anticipating that demand for its hydrogen fuel solutions will grow exponentially in the years to come. With hydrogen set to be one of the main drivers of the 2050 carbon zero goal, I tend to agree that while the company may not be hugely profitable right now, the long-term growth potential is substantial.Grant incomeIt is important to examine the risks of buying the ITM share price now, however. The AIM-listed company reported a 16% improvement in its total income for its first half last month, to £4.4m. However, only £0.2m of that was attributed to sales, with the remainder of the income down to grants. Losses from operations widened by 22% to £12m. ITM suffered from delays to some of its installation projects due to Covid-19.Despite the lack of profits, I think there are reasons to be positive about the potential of ITM to return to profitability in the near future. The company has been engaged by a number of strategic partners to deliver its modular PEM electrolyser tech. These include oil and gas giant Royal Dutch Shell (LSE:RDSB). I think other energy giants may turn to the likes of ITM in an effort to accelerate their own moves towards carbon zero.There are still doubts about the viability of hydrogen fuel and whether it can be used en masse to power cars in the future. Considering the huge increase in the ITM share price over the last few years, and the fact that doubts remain about its profitability and the long-term viability of its products, I won’t be buying the shares right now. I will be keeping a close eye on ITM and on the renewable energy sector, in what is likely to be an eventful few years ahead. I would like to receive emails from you about product information and offers from The Fool and its business partners. Each of these emails will provide a link to unsubscribe from future emails. More information about how The Fool collects, stores, and handles personal data is available in its Privacy Statement. Enter Your Email Address See all posts by Conor Coylelast_img read more