ITM Power (LON:ITM) Insider Simon Bourne Buys 234 Shares

ITM Power Plc (LON:ITM) insider Simon Bourne acquired 234 shares of the business’s stock in a transaction dated Monday, March 16th. The stock was acquired at an average cost of GBX 64 per share, with a total value of £149.76.

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

• On Monday, February 16th, Simon Bourne bought 241 shares of ITM Power stock. The stock was acquired at an average price of GBX 62 per share, for a total transaction of £149.42.
• On Thursday, January 15th, Simon Bourne purchased 227 shares of ITM Power stock. The shares were acquired at an average price of GBX 66 per share, with a total value of £149.82.

ITM Power Trading Down 2.5%

ITM stock traded down GBX 1.60 during trading on Wednesday, hitting GBX 63.30. 2,006,151 shares of the company traded hands, compared to its average volume of 2,854,889. The firm has a market capitalization of £390.03 million, a PE ratio of -12.66 and a beta of 2.27. ITM Power Plc has a 1 year low of GBX 25.20 and a 1 year high of GBX 98.45. 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 company has a 50-day moving average of GBX 64 and a 200-day moving average of GBX 69.31.

ITM Power (LON:ITM) last issued its earnings results on Thursday, January 29th. The company reported GBX (2.30) earnings per share (EPS) for the quarter. ITM Power had a negative return on equity of 14.17% and a negative net margin of 108.00%. Analysts predict that ITM Power Plc will post -8.9214682 earnings per share for the current fiscal year.

Analysts Set New Price Targets

ITM has been the subject of a number of analyst reports. UBS Group reiterated a “neutral” rating and set a GBX 60 target price on shares of ITM Power in a report on Friday, January 16th. Berenberg Bank reiterated a “buy” rating and issued a GBX 100 price objective on shares of ITM Power in a report on Thursday, January 29th. Two analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of GBX 91.67.

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.