ITM Power (LON:ITM) Stock Price Up 15% – Still a Buy?

ITM Power Plc (LON:ITM)’s share price rose 15% on Monday . The company traded as high as GBX 83.60 ($1.13) and last traded at GBX 83.60 ($1.13). Approximately 9,977,290 shares changed hands during trading, an increase of 114% from the average daily volume of 4,667,740 shares. The stock had previously closed at GBX 72.70 ($0.99).

Analyst Ratings Changes

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

ITM Power Stock Performance

The business has a fifty day simple moving average of GBX 39.05 and a two-hundred day simple moving average of GBX 35.29. The company has a debt-to-equity ratio of 4.73, a current ratio of 4.17 and a quick ratio of 7.56. The company has a market cap of £520.97 million, a PE ratio of -19.12 and a beta of 2.03.

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.