ITM Power (LON:ITM) Insider Buys £150.41 in Stock

ITM Power Plc (LON:ITM) insider Simon Bourne bought 169 shares of the stock in a transaction dated Thursday, October 15th. The stock was purchased at an average price of GBX 89 per share, with a total value of £150.41.

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

• On Tuesday, September 15th, Simon Bourne purchased 152 shares of ITM Power stock. The shares were purchased at an average cost of GBX 99 per share, with a total value of £150.48.

ITM Power Stock Performance

Shares of LON:ITM opened at GBX 80.70 on Friday. The company has a market capitalization of £556.99 million, a price-to-earnings ratio of -16.14 and a beta of 2.82. ITM Power Plc has a 12 month low of GBX 57.90 and a 12 month high of GBX 219.80. The firm’s 50-day moving average is GBX 99.95 and its 200 day moving average is GBX 118.93. The company has a current ratio of 2.73, a quick ratio of 7.56 and a debt-to-equity ratio of 5.87.

ITM Power (LON:ITM) last posted its quarterly earnings data on Monday, October 19th. The company reported GBX (4) earnings per share for the quarter. ITM Power had a negative return on equity of 11.09% and a negative net margin of 57.26%. Research analysts predict that ITM Power Plc will post -8.92 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. JPMorgan Chase & Co. raised their price target on ITM Power from GBX 60 to GBX 80 and gave the stock a “neutral” rating in a research note on Wednesday, August 5th. Berenberg Bank reaffirmed a “buy” rating and issued a GBX 200 price objective on shares of ITM Power in a research report on Monday, October 12th. Finally, Peel Hunt reaffirmed a “hold” rating and issued a GBX 92 price objective on shares of ITM Power in a research report on Thursday, October 8th. Two analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, ITM Power presently has a consensus rating of “Hold” and a consensus price target of GBX 4,086.40.

About ITM Power

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.