Shares of ITM Power Plc (LON:ITM – Get Free Report) hit a new 52-week low during trading on Wednesday . The company traded as low as GBX 40.02 ($0.52) and last traded at GBX 40.52 ($0.53), with a volume of 1576917 shares changing hands. The stock had previously closed at GBX 40.28 ($0.52).
Analyst Upgrades and Downgrades
ITM has been the topic of a number of recent research reports. JPMorgan Chase & Co. downgraded shares of ITM Power to a “neutral” rating and reduced their target price for the stock from GBX 130 ($1.69) to GBX 90 ($1.17) in a research report on Tuesday, July 9th. Berenberg Bank decreased their target price on shares of ITM Power from GBX 60 ($0.78) to GBX 59 ($0.77) and set a “hold” rating for the company in a research note on Thursday, August 15th.
Check Out Our Latest Report on ITM
ITM Power Price Performance
Insiders Place Their Bets
In other news, insider Andy Allen purchased 658 shares of ITM Power stock in a transaction that occurred on Tuesday, October 15th. The stock was bought at an average price of GBX 46 ($0.60) per share, with a total value of £302.68 ($392.99). In related news, insider Andy Allen purchased 658 shares of ITM Power stock in a transaction dated Tuesday, October 15th. The stock was purchased at an average cost of GBX 46 ($0.60) per share, for a total transaction of £302.68 ($392.99). Also, insider Dennis Schulz acquired 518 shares of the stock in a transaction that occurred on Thursday, August 15th. The shares were bought at an average price of GBX 58 ($0.75) per share, for a total transaction of £300.44 ($390.08). Over the last ninety days, insiders bought 1,484 shares of company stock valued at $75,404. Insiders own 48.26% of the company’s stock.
ITM Power Company Profile
ITM Power Plc designs and manufactures proton exchange membrane (PEM) electrolysers in the United Kingdom, Germany, Australia, rest of Europe, and the United States. The company’s product portfolio comprises TRIDENT, an PEM electrolysers stack technology; NEPTUNE, a 2MW plug and play electrolyser for small to mid-size projects; and POSEIDON, a 20 MW electrolysis process module for large-scale projects.
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