ITM Power Plc (LON:ITM) Insider Buys £302.68 in Stock

ITM Power Plc (LON:ITM) insider Andy Allen acquired 658 shares of the firm’s stock in a transaction on Tuesday, October 15th. The stock was bought at an average price of GBX 46 ($0.60) per share, for a total transaction of £302.68 ($395.25).

ITM Power Stock Up 3.2 %

ITM opened at GBX 43.58 ($0.57) on Friday. The stock has a fifty day moving average of GBX 49.25 and a 200-day moving average of GBX 51.95. The company has a market capitalization of £268.75 million, a P/E ratio of -1,089.50 and a beta of 2.03. ITM Power Plc has a fifty-two week low of GBX 42.02 ($0.55) and a fifty-two week high of GBX 71.92 ($0.94). The company has a debt-to-equity ratio of 4.73, a quick ratio of 7.56 and a current ratio of 4.17.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. JPMorgan Chase & Co. downgraded shares of ITM Power to a “neutral” rating and reduced their target price for the stock from GBX 130 ($1.70) to GBX 90 ($1.18) in a report on Tuesday, July 9th. Berenberg Bank reduced their price objective on ITM Power from GBX 60 ($0.78) to GBX 59 ($0.77) and set a “hold” rating for the company in a report on Thursday, August 15th.

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. The company’s product portfolio comprises TRIDENT, an PEM electrolysers stack technology; NEPTUNE, a 2MW plug and play electrolyser for small to mid-size projects; and POSEIDON, a 20 MW electrolysis process module for large-scale projects.