UBS Group Reaffirms Neutral Rating for ITM Power (LON:ITM)

ITM Power (LON:ITM)‘s stock had its “neutral” rating reissued by equities research analysts at UBS Group in a research report issued on Friday,London Stock Exchange reports. They currently have a GBX 60 price target on the stock. UBS Group’s price target points to a potential downside of 8.81% from the stock’s previous close.

Several other research firms also recently issued reports on ITM. Jefferies Financial Group raised their price target on shares of ITM Power from GBX 60 to GBX 115 and gave the company a “buy” rating in a research note on Wednesday, October 1st. Berenberg Bank reissued a “buy” rating and issued a GBX 100 price objective on shares of ITM Power in a research note on Thursday, December 4th. Two investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of GBX 91.67.

ITM Power Trading Down 0.3%

Shares of LON:ITM traded down GBX 0.20 during midday trading on Friday, hitting GBX 65.80. 723,680 shares of the stock were exchanged, compared to its average volume of 1,706,231. The business’s 50-day moving average price is GBX 68.19 and its 200 day moving average price is GBX 71.75. The stock has a market capitalization of £405.44 million, a price-to-earnings ratio of -8.89 and a beta of 2.03. ITM Power has a 12 month low of GBX 25.08 and a 12 month high of GBX 98.45. The company has a debt-to-equity ratio of 4.73, a quick ratio of 7.56 and a current ratio of 4.17.

Insider Activity

In other ITM Power news, insider Dennis Schulz bought 466 shares of the stock in a transaction that occurred on Tuesday, December 16th. The shares were bought at an average price of GBX 64 per share, for a total transaction of £298.24. Also, insider Simon Bourne acquired 466 shares of the stock in a transaction dated Tuesday, December 16th. The stock was bought at an average cost of GBX 64 per share, with a total value of £298.24. Insiders have bought 1,338 shares of company stock worth $89,692 in the last quarter. Company insiders own 8.73% 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.