ITM Power (LON:ITM) Trading Up 18.4% – Should You Buy?

Shares of ITM Power Plc (LON:ITM) shot up 18.4% during trading on Saturday . The company traded as high as GBX 75.20 ($1.02) and last traded at GBX 72.70 ($0.98). 13,991,459 shares traded hands during mid-day trading, an increase of 203% from the average session volume of 4,618,578 shares. The stock had previously closed at GBX 61.40 ($0.83).

Wall Street Analyst Weigh In

Separately, Berenberg Bank reaffirmed a “hold” rating and set a GBX 59 ($0.80) price objective on shares of ITM Power in a research report on Thursday, May 8th.

ITM Power Price Performance

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 £453.04 million, a price-to-earnings ratio of -16.63 and a beta of 2.03. The company’s 50-day moving average is GBX 39.05 and its 200-day moving average is GBX 35.29.

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.