ITM Power (LON:ITM) Insider Buys £150.29 in Stock

ITM Power Plc (LON:ITM) insider Simon Bourne purchased 113 shares of the company’s stock in a transaction that occurred on Tuesday, June 16th. The shares were acquired at an average cost of GBX 133 per share, for a total transaction of £150.29.

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

• On Friday, May 15th, Simon Bourne purchased 92 shares of ITM Power stock. The shares were acquired at an average cost of GBX 162 per share, for a total transaction of £149.04.

ITM Power Stock Down 2.2%

LON:ITM opened at GBX 124.49 on Wednesday. The firm has a market capitalization of £859.23 million, a price-to-earnings ratio of -24.90 and a beta of 2.84. ITM Power Plc has a 1-year low of GBX 56.80 and a 1-year high of GBX 219.80. The company has a current ratio of 2.62, a quick ratio of 7.56 and a debt-to-equity ratio of 6.99. The business’s fifty day moving average price is GBX 142.27 and its 200 day moving average price is GBX 91.86.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on ITM shares. Jefferies Financial Group raised ITM Power to a “buy” rating and upped their target price for the stock from £115 to £200 in a research report on Thursday, May 7th. Berenberg Bank upped their target price on ITM Power from GBX 100 to GBX 110 and gave the stock a “buy” rating in a research report on Tuesday, April 14th. Two equities 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, ITM Power currently has an average rating of “Moderate Buy” and an average price target of GBX 6,723.33.

About ITM Power

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.