Insider Buying: ITM Power (LON:ITM) Insider Acquires £149.82 in Stock

ITM Power Plc (LON:ITM) insider Dennis Schulz bought 227 shares of the firm’s stock in a transaction on Thursday, January 15th. The stock was purchased at an average price of GBX 66 per share, with a total value of £149.82.

Dennis Schulz also recently made the following trade(s):

• On Tuesday, December 16th, Dennis Schulz acquired 466 shares of ITM Power stock. The stock was purchased at an average price of GBX 64 per share, for a total transaction of £298.24.
• On Friday, November 14th, Dennis Schulz purchased 203 shares of ITM Power stock. The shares were acquired at an average price of GBX 74 per share, for a total transaction of £150.22.

ITM Power Stock Up 2.8%

ITM stock opened at GBX 66.40 on Thursday. 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 £409.13 million, a PE ratio of -8.97 and a beta of 2.03. ITM Power Plc has a 1 year low of GBX 25.08 and a 1 year high of GBX 98.45. The company has a fifty day simple moving average of GBX 67.21 and a 200 day simple moving average of GBX 71.11.

Analyst Ratings Changes

Several research analysts recently commented on the stock. UBS Group reiterated a “neutral” rating and issued a GBX 60 target price on shares of ITM Power in a report on Friday, January 16th. Berenberg Bank reaffirmed a “buy” rating and issued a GBX 100 target price on shares of ITM Power in a report on Thursday, December 4th. Finally, Jefferies Financial Group lifted their price target on ITM Power from GBX 60 to GBX 115 and gave the stock a “buy” rating in a research report on Wednesday, October 1st. Two research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of GBX 91.67.

ITM Power Company Profile

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.