ITM Power’s (ITM) Neutral Rating Reiterated at UBS Group

UBS Group restated their neutral rating on shares of ITM Power (LON:ITM) in a research report sent to investors on Friday, Marketbeat reports. The firm currently has a GBX 60 target price on the stock.

Other equities research analysts have also recently issued reports about the stock. Berenberg Bank reiterated a “buy” rating and issued a GBX 100 price target on shares of ITM Power in a research report on Thursday, December 4th. Jefferies Financial Group lifted their price objective on shares of ITM Power from GBX 60 to GBX 115 and gave the stock a “buy” rating in a research note on Wednesday, October 1st. Two equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of GBX 91.67.

ITM Power Stock Down 0.6%

Shares of ITM stock opened at GBX 65.61 on Friday. ITM Power has a 1 year low of GBX 25.08 and a 1 year high of GBX 98.45. The company has a debt-to-equity ratio of 4.73, a quick ratio of 7.56 and a current ratio of 4.17. The business’s fifty day moving average is GBX 68.01 and its 200-day moving average is GBX 71.51. The stock has a market cap of £404.24 million, a PE ratio of -8.87 and a beta of 2.03.

Insiders Place Their Bets

In other news, insider Simon Bourne acquired 466 shares of ITM Power stock in a transaction on Tuesday, December 16th. The stock was bought at an average cost of GBX 64 per share, with a total value of £298.24. Also, insider Dennis Schulz bought 466 shares of the company’s stock in a transaction dated Tuesday, December 16th. The stock was purchased at an average cost of GBX 64 per share, for a total transaction of £298.24. Insiders purchased a total of 1,338 shares of company stock valued at $89,692 in the last quarter. 8.73% of the stock is currently owned by corporate insiders.

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.