Insider Buying: ITM Power (LON:ITM) Insider Acquires 92 Shares of Stock

ITM Power Plc (LON:ITM) insider Simon Bourne purchased 92 shares of the company’s stock in a transaction dated Friday, May 15th. The stock was purchased at an average price of GBX 162 per share, with a total value of £149.04.

Simon Bourne also recently made the following trade(s):

• On Monday, March 16th, Simon Bourne purchased 234 shares of ITM Power stock. The stock was purchased at an average price of GBX 64 per share, with a total value of £149.76.

ITM Power Stock Up 5.7%

Shares of ITM opened at GBX 168.70 on Monday. ITM Power Plc has a 52 week low of GBX 44 and a 52 week high of GBX 179.70. The stock has a market capitalization of £1.16 billion, a price-to-earnings ratio of -33.74 and a beta of 2.76. The company has a debt-to-equity ratio of 6.99, a quick ratio of 7.56 and a current ratio of 2.62. The stock has a fifty day moving average of GBX 99.70 and a 200-day moving average of GBX 78.99.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on ITM shares. Jefferies Financial Group upgraded ITM Power to a “buy” rating and increased their price target for the company from £115 to £200 in a research note on Thursday, May 7th. Berenberg Bank increased their price target on ITM Power from GBX 100 to GBX 110 and gave the company a “buy” rating in a research note on Tuesday, April 14th. Two research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of GBX 6,723.33.

ITM Power Company Profile

ITM Power designs and manufactures industrial-scale electrolysers for green hydrogen production. Its proprietary PEM technology, vertically integrated manufacturing, and in-house engineering capabilities enable it to supply standardised, high-performance hydrogen plants.

With a proven track record in large-scale projects, ITM Power helps leading industrial and energy companies achieve their decarbonisation goals. In addition to its equipment offering, the company provides reliable and cost-competitive hydrogen supply through its build, own and operate (BOO) model, Hydropulse.

Headquartered in the UK, ITM Power is listed on the London Stock Exchange AIM (LSE: ITM) and holds the Green Economy Mark, which recognises companies that generate over 50% of their revenues from green products and services.