ITM Power (LON:ITM) Stock Price Down 3.9% – What’s Next?

ITM Power Plc (LON:ITM) fell 3.9% on Thursday . The company traded as low as GBX 67.30 ($0.91) and last traded at GBX 75.27 ($1.02). 38,237,453 shares traded hands during mid-day trading, an increase of 764% from the average session volume of 4,426,917 shares. The stock had previously closed at GBX 78.30 ($1.06).

Analysts Set New Price Targets

Separately, Berenberg Bank reiterated a “hold” rating and set a GBX 59 ($0.80) target price on shares of ITM Power in a research report on Thursday, May 8th.

ITM Power Price Performance

The stock has a 50-day simple moving average of GBX 39.05 and a 200 day simple moving average of GBX 35.27. The stock has a market capitalization of £453.04 million, a P/E ratio of -16.63 and a beta of 2.03. The company has a debt-to-equity ratio of 4.73, a quick ratio of 7.56 and a current ratio of 4.17.

ITM Power Company Profile

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.