ITM Power (LON:ITM) Insider Simon Bourne Buys 134 Shares

ITM Power Plc (LON:ITM) insider Simon Bourne purchased 134 shares of the company’s stock in a transaction that occurred on Wednesday, July 15th. The shares were purchased at an average price of GBX 112 per share, for a total transaction of £150.08.

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

• On Tuesday, June 16th, Simon Bourne purchased 113 shares of ITM Power stock. The stock was purchased at an average cost of GBX 133 per share, for a total transaction of £150.29.
• On Friday, May 15th, Simon Bourne acquired 92 shares of ITM Power stock. The stock was purchased at an average price of GBX 162 per share, with a total value of £149.04.

ITM Power Stock Performance

Shares of ITM Power stock opened at GBX 100.40 on Friday. The company has a current ratio of 2.62, a quick ratio of 7.56 and a debt-to-equity ratio of 6.99. The firm has a market capitalization of £692.96 million, a P/E ratio of -20.08 and a beta of 2.89. The business has a fifty day simple moving average of GBX 142.95 and a two-hundred day simple moving average of GBX 100.20. ITM Power Plc has a 12 month low of GBX 56.80 and a 12 month high of GBX 219.80.

Analyst Ratings Changes

ITM has been the subject of a number of recent research reports. Jefferies Financial Group raised shares of ITM Power to a “buy” rating and lifted their price target for the company from £115 to £200 in a research report on Thursday, May 7th. Berenberg Bank upped their price objective on shares of ITM Power from GBX 100 to GBX 110 and gave the stock a “buy” rating in a report on Tuesday, April 14th. Two equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of GBX 6,723.33.

ITM Power Company Profile

ITM Power designs and manufactures industrial-scale electrolysers for green hydrogen production. Its proprietary PEM technology, vertically integrated manufacturing, and in-house engineering capabilities enable it to supply standardised, high-performance hydrogen plants.

With a proven track record in large-scale projects, ITM Power helps leading industrial and energy companies achieve their decarbonisation goals. In addition to its equipment offering, the company provides reliable and cost-competitive hydrogen supply through its build, own and operate (BOO) model, Hydropulse.

Headquartered in the UK, ITM Power is listed on the London Stock Exchange AIM (LSE: ITM) and holds the Green Economy Mark, which recognises companies that generate over 50% of their revenues from green products and services.