Insider Buying: ITM Power (LON:ITM) Insider Purchases £150.22 in Stock

ITM Power Plc (LON:ITM) insider Simon Bourne acquired 203 shares of the business’s stock in a transaction that occurred on Friday, November 14th. The shares were acquired at an average cost of GBX 74 per share, for a total transaction of £150.22.

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

• On Wednesday, October 15th, Simon Bourne bought 177 shares of ITM Power stock. The shares were bought at an average cost of GBX 85 per share, for a total transaction of £150.45.
• On Monday, September 15th, Simon Bourne purchased 235 shares of ITM Power stock. The stock was bought at an average price of GBX 64 per share, for a total transaction of £150.40.

ITM Power Trading Up 4.0%

ITM opened at GBX 72 on Thursday. The company has a current ratio of 4.17, a quick ratio of 7.56 and a debt-to-equity ratio of 4.73. The firm has a market cap of £443.64 million, a price-to-earnings ratio of -9.73 and a beta of 2.03. ITM Power Plc has a 12 month low of GBX 25.08 and a 12 month high of GBX 98.45. The stock has a fifty day moving average price of GBX 77.26 and a 200-day moving average price of GBX 69.80.

Wall Street Analysts Forecast Growth

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

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.