ITM Power (LON:ITM) Trading Up 18.4% – Still a Buy?

ITM Power Plc (LON:ITM) shares were up 18.4% during trading on Saturday . The stock traded as high as GBX 75.20 ($1.02) and last traded at GBX 72.70 ($0.98). Approximately 13,991,459 shares were traded during mid-day trading, an increase of 203% from the average daily 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 reiterated a “hold” rating and set a GBX 59 ($0.80) price objective on shares of ITM Power in a report on Thursday, May 8th.

ITM Power Stock Up 18.4%

The stock has a 50-day moving average of GBX 39.05 and a 200-day moving average of GBX 35.29. The company has a market cap of £453.04 million, a PE ratio of -16.63 and a beta of 2.03. The company has a quick ratio of 7.56, a current ratio of 4.17 and a debt-to-equity ratio of 4.73.

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.