ITM Power (LON:ITM) Sets New 52-Week High – Should You Buy?

ITM Power Plc (LON:ITM)’s stock price reached a new 52-week high on Monday . The company traded as high as GBX 96.90 ($1.32) and last traded at GBX 96.50 ($1.32), with a volume of 2693775 shares. The stock had previously closed at GBX 93.09 ($1.27).

Wall Street Analyst Weigh In

Separately, Berenberg Bank reiterated a “hold” rating and issued a GBX 59 ($0.81) price objective on shares of ITM Power in a research note on Thursday, May 8th.

ITM Power Price Performance

The stock’s fifty day moving average is GBX 59.14 and its 200-day moving average is GBX 41.48. The stock has a market capitalization of £609.20 million, a PE ratio of -22.36 and a beta of 2.03. The company has a debt-to-equity ratio of 4.73, a current ratio of 4.17 and a quick ratio of 7.56.

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.