ITM Power (LON:ITM) Sets New 12-Month Low – Time to Sell?

ITM Power Plc (LON:ITM)’s share price reached a new 52-week low on Thursday . The company traded as low as GBX 28.52 ($0.36) and last traded at GBX 28.70 ($0.36), with a volume of 1977637 shares traded. The stock had previously closed at GBX 29.28 ($0.37).

Analysts Set New Price Targets

A number of analysts recently weighed in on ITM shares. Jefferies Financial Group reissued a “buy” rating and issued a GBX 60 ($0.75) price objective on shares of ITM Power in a research report on Friday, December 6th. Royal Bank of Canada reaffirmed an “outperform” rating and set a GBX 70 ($0.88) target price on shares of ITM Power in a research report on Friday, December 6th. Finally, Berenberg Bank reaffirmed a “hold” rating and set a GBX 59 ($0.74) target price on shares of ITM Power in a research report on Thursday, December 5th.

ITM Power Trading Up 1.0 %

The firm has a market capitalization of £180.72 million, a PE ratio of -6.63 and a beta of 2.03. The stock’s 50-day moving average price is GBX 35.10 and its 200 day moving average price is GBX 40.44. The company has a debt-to-equity ratio of 4.73, a current ratio of 4.17 and a quick ratio of 7.56.

ITM Power (LON:ITM) last released its quarterly earnings data on Friday, January 31st. The company reported GBX (4.70) (($0.06)) earnings per share (EPS) for the quarter. ITM Power had a negative net margin of 164.90% and a negative return on equity of 9.97%. On average, sell-side analysts expect that ITM Power Plc will post -8.9214682 EPS for the current fiscal year.

Insider Activity

In other news, insider Simon Bourne bought 792 shares of the stock in a transaction on Wednesday, January 15th. The stock was bought at an average cost of GBX 38 ($0.48) per share, for a total transaction of £300.96 ($378.52). Over the last ninety days, insiders have acquired 1,634 shares of company stock worth $60,382. Corporate insiders own 48.26% 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.