ITM Power (LON:ITM) Trading 15% Higher – Still a Buy?

ITM Power Plc (LON:ITM)’s stock price shot up 15% on Monday . The stock traded as high as GBX 83.60 ($1.13) and last traded at GBX 83.60 ($1.13). 9,977,290 shares were traded during mid-day trading, an increase of 114% from the average session volume of 4,667,740 shares. The stock had previously closed at GBX 72.70 ($0.99).

Analyst Ratings Changes

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

ITM Power Trading Up 15.0%

The company’s 50 day moving average price is GBX 40.14 and its two-hundred day moving average price is GBX 35.63. 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 stock has a market capitalization 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.