ITM Power (LON:ITM) Reaches New 12-Month Low – Should You Sell?

Shares of ITM Power Plc (LON:ITM) reached a new 52-week low on Thursday . The stock traded as low as GBX 26.60 ($0.34) and last traded at GBX 27.16 ($0.35), with a volume of 2431195 shares. The stock had previously closed at GBX 27.98 ($0.36).

Analyst Ratings Changes

A number of equities research analysts recently issued reports on ITM shares. Berenberg Bank restated a “hold” rating and issued a GBX 59 ($0.76) price objective on shares of ITM Power in a research note on Thursday, December 5th. Jefferies Financial Group reiterated a “buy” rating and issued a GBX 60 ($0.78) target price on shares of ITM Power in a research note on Friday, December 6th. Finally, Royal Bank of Canada restated an “outperform” rating and set a GBX 70 ($0.90) price target on shares of ITM Power in a research note on Friday, December 6th.

ITM Power Price Performance

The company has a current ratio of 4.17, a quick ratio of 7.56 and a debt-to-equity ratio of 4.73. The firm has a market cap of £168.01 million, a PE ratio of -6.17 and a beta of 2.03. The business has a fifty day moving average of GBX 34.45 and a 200-day moving average of GBX 39.80.

ITM Power (LON:ITM) last released its quarterly earnings data on Friday, January 31st. The company reported GBX (4.70) (($0.06)) EPS for the quarter. ITM Power had a negative net margin of 164.90% and a negative return on equity of 9.97%. As a group, research analysts predict that ITM Power Plc will post -8.9214682 earnings per share for the current year.

Insider Buying and Selling at ITM Power

In other ITM Power news, insider Simon Bourne purchased 792 shares of the company’s stock in a transaction dated Wednesday, January 15th. The stock was purchased at an average price of GBX 38 ($0.49) per share, for a total transaction of £300.96 ($388.99). Also, insider Amy Grey purchased 102,455 shares of the firm’s stock in a transaction dated Friday, February 28th. The stock was bought at an average cost of GBX 29 ($0.37) per share, for a total transaction of £29,711.95 ($38,402.42). Insiders bought a total of 104,089 shares of company stock valued at $3,031,577 in the last three months. Company insiders own 48.26% of the company’s stock.

About ITM Power

ITM Power was founded in 2000, and ITM Power PLC was admitted to the London Stock Exchange’s AIM market in 2004.

Headquartered in Sheffield, England, ITM Power designs and manufactures electrolysers based on proton exchange membrane (PEM) technology to produce green hydrogen, the only net zero energy gas, using renewable electricity and water.