Jefferies Financial Group Reaffirms “Buy” Rating for ITM Power (LON:ITM)

ITM Power (LON:ITM)‘s stock had its “buy” rating reaffirmed by investment analysts at Jefferies Financial Group in a report issued on Friday, MarketBeat reports. They presently have a GBX 60 ($0.76) price target on the stock. Jefferies Financial Group’s price target indicates a potential upside of 67.22% from the company’s previous close.

Several other research firms have also issued reports on ITM. Royal Bank of Canada restated an “outperform” rating and issued a GBX 70 ($0.89) price target on shares of ITM Power in a research report on Friday. Berenberg Bank restated a “hold” rating and issued a GBX 59 ($0.75) price target on shares of ITM Power in a research report on Thursday.

ITM Power Price Performance

Shares of LON:ITM opened at GBX 35.88 ($0.46) on Friday. ITM Power has a 12 month low of GBX 32.20 ($0.41) and a 12 month high of GBX 71.80 ($0.92). The stock has a market cap of £221.26 million, a price-to-earnings ratio of -897.00 and a beta of 2.03. The stock’s 50 day moving average price is GBX 40.66 and its 200 day moving average price is GBX 48.38. The company has a debt-to-equity ratio of 4.73, a current ratio of 4.17 and a quick ratio of 7.56.

Insiders Place Their Bets

In other news, insider Simon Bourne bought 60,126 shares of the business’s stock in a transaction on Wednesday, October 30th. The shares were bought at an average cost of GBX 42 ($0.54) per share, with a total value of £25,252.92 ($32,185.73). Also, insider Andy Allen bought 658 shares of the business’s stock in a transaction on Tuesday, October 15th. The shares were purchased at an average cost of GBX 46 ($0.59) per share, for a total transaction of £302.68 ($385.78). Over the last 90 days, insiders have acquired 61,497 shares of company stock worth $2,585,637. 48.26% of the stock is owned by insiders.

About ITM Power

ITM Power Plc designs and manufactures proton exchange membrane (PEM) electrolysers in the United Kingdom, Germany, Australia, rest of Europe, and the United States. The company’s product portfolio comprises TRIDENT, an PEM electrolysers stack technology; NEPTUNE, a 2MW plug and play electrolyser for small to mid-size projects; and POSEIDON, a 20 MW electrolysis process module for large-scale projects.