ITM Power (LON:ITM) Shares Down 6.3% – Should You Sell?

Shares of ITM Power Plc (LON:ITM) were down 6.3% during trading on Friday . The company traded as low as GBX 73 ($0.99) and last traded at GBX 73.20 ($0.99). Approximately 4,206,881 shares traded hands during trading, a decline of 10% from the average daily volume of 4,699,091 shares. The stock had previously closed at GBX 78.10 ($1.06).

Wall Street Analyst Weigh In

Separately, Berenberg Bank reiterated a “hold” rating and issued a GBX 59 ($0.80) price target on shares of ITM Power in a research note on Thursday, May 8th.

ITM Power Stock Down 0.8%

The company has a quick ratio of 7.56, a current ratio of 4.17 and a debt-to-equity ratio of 4.73. The company’s fifty day moving average price is GBX 43.91 and its 200-day moving average price is GBX 36.73. The stock has a market capitalization of £452.42 million, a PE ratio of -16.61 and a beta of 2.03.

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.