Insider Buying: ITM Power (LON:ITM) Insider Acquires 177 Shares of Stock

ITM Power Plc (LON:ITM) insider Simon Bourne acquired 177 shares of ITM Power stock in a transaction on Wednesday, October 15th. The shares were bought at an average price of GBX 85 per share, for a total transaction of £150.45.

Simon Bourne also recently made the following trade(s):

• On Monday, September 15th, Simon Bourne acquired 235 shares of ITM Power stock. The shares were bought at an average price of GBX 64 per share, for a total transaction of £150.40.
• On Friday, August 15th, Simon Bourne acquired 224 shares of ITM Power stock. The shares were bought at an average price of GBX 67 per share, for a total transaction of £150.08.

ITM Power Trading Down 4.7%

LON:ITM opened at GBX 78.71 on Friday. 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 Plc has a one year low of GBX 25.08 and a one year high of GBX 98.45. The business’s 50-day simple moving average is GBX 71.43 and its 200 day simple moving average is GBX 61.05. The stock has a market cap of £484.98 million, a price-to-earnings ratio of -1,063.64 and a beta of 2.03.

ITM Power (LON:ITM) last released its quarterly earnings results on Thursday, August 14th. The company reported GBX (7.40) EPS for the quarter. ITM Power had a negative return on equity of 9.97% and a negative net margin of 164.90%. As a group, sell-side analysts predict that ITM Power Plc will post -8.9214682 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Berenberg Bank reiterated a “buy” rating and issued a GBX 100 price target on shares of ITM Power in a research note on Thursday, August 14th. JPMorgan Chase & Co. reiterated a “neutral” rating on shares of ITM Power in a research note on Monday, July 28th. Finally, Jefferies Financial Group boosted their price target on ITM Power from GBX 60 to GBX 115 and gave the stock a “buy” rating in a research note on Wednesday, October 1st. Three research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, ITM Power presently has an average rating of “Moderate Buy” and an average price target of GBX 95.

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.