ITM Power (LON:ITM) Stock: Insider Simon Bourne Buys 169 Shares

ITM Power Plc (LON:ITM) insider Simon Bourne purchased 169 shares of the firm’s stock in a transaction dated Thursday, October 15th. The stock was bought at an average cost of GBX 89 per share, for a total transaction of £150.41.

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

• On Tuesday, September 15th, Simon Bourne bought 152 shares of ITM Power stock. The stock was bought at an average price of GBX 99 per share, with a total value of £150.48.

ITM Power Stock Up 0.6%

Shares of LON:ITM opened at GBX 86.55 on Thursday. The firm has a market capitalization of £597.37 million, a PE ratio of -17.31 and a beta of 2.82. The company has a debt-to-equity ratio of 5.87, a quick ratio of 7.56 and a current ratio of 2.73. ITM Power Plc has a 52-week low of GBX 57.90 and a 52-week high of GBX 219.80. The firm has a fifty day moving average of GBX 100.59 and a 200 day moving average of GBX 118.81.

ITM Power (LON:ITM) last released its quarterly earnings results on Monday, October 19th. The company reported GBX (4) earnings per share for the quarter. ITM Power had a negative net margin of 57.26% and a negative return on equity of 11.09%. As a group, research analysts anticipate that ITM Power Plc will post -8.92 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently commented on ITM shares. JPMorgan Chase & Co. increased their price objective on ITM Power from GBX 60 to GBX 80 and gave the company a “neutral” rating in a research report on Wednesday, August 5th. Peel Hunt reissued a “hold” rating and set a GBX 92 price objective on shares of ITM Power in a report on Thursday, October 8th. Finally, Berenberg Bank restated a “buy” rating and issued a GBX 200 target price on shares of ITM Power in a research report on Monday, October 12th. Two equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of GBX 4,086.40.

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.