Insider Buying: ITM Power (LON:ITM) Insider Buys £197,800 in Stock

ITM Power Plc (LON:ITM) insider Warren East bought 172,000 shares of the firm’s stock in a transaction that occurred on Monday, June 29th. The shares were acquired at an average cost of GBX 115 per share, with a total value of £197,800.

ITM Power Trading Up 1.9%

Shares of ITM stock opened at GBX 134.46 on Wednesday. ITM Power Plc has a fifty-two week low of GBX 56.80 and a fifty-two week high of GBX 219.80. 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 50 day simple moving average of GBX 150.26 and a two-hundred day simple moving average of GBX 95.57. The company has a market cap of £928.06 million, a P/E ratio of -26.89 and a beta of 2.84.

Analyst Ratings Changes

Several analysts have recently weighed in on ITM shares. Berenberg Bank lifted their price objective on shares of ITM Power from GBX 100 to GBX 110 and gave the company a “buy” rating in a research note on Tuesday, April 14th. Jefferies Financial Group raised shares of ITM Power to a “buy” rating and increased their target price for the stock from £115 to £200 in a research note on Thursday, May 7th. Two equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target 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.