ITM Power Plc (LON:ITM – Get Free Report) passed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of GBX 52.77 ($0.70) and traded as low as GBX 46.22 ($0.62). ITM Power shares last traded at GBX 47.30 ($0.63), with a volume of 2,190,123 shares.
Wall Street Analyst Weigh In
Several brokerages recently commented on ITM. Berenberg Bank decreased their target price on shares of ITM Power from GBX 60 ($0.80) to GBX 59 ($0.79) and set a “hold” rating on the stock in a research note on Thursday, August 15th. JPMorgan Chase & Co. cut shares of ITM Power to a “neutral” rating and dropped their price target for the stock from GBX 130 ($1.74) to GBX 90 ($1.20) in a research note on Tuesday, July 9th.
ITM Power Stock Performance
Insider Activity at ITM Power
In other news, insider Dennis Schulz bought 518 shares of ITM Power stock in a transaction on Thursday, August 15th. The stock was acquired at an average cost of GBX 58 ($0.77) per share, for a total transaction of £300.44 ($401.01). Insiders bought 1,058 shares of company stock worth $60,216 over the last three months. 48.26% of the stock is owned by corporate insiders.
ITM Power Company Profile
ITM Power Plc designs and manufactures proton exchange membrane (PEM) electrolysers in the United Kingdom, Germany, Australia, rest of Europe, and the United States. Its product portfolio includes TRIDENT, an PEM electrolysers stack technology; NEPTUNE, a 2MW plug and play electrolyser for small to mid-size projects; and POSEIDON, a cutting-edge 20 MW module for large-scale projects.
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