ITM Power (LON:ITM) Share Price Crosses Above Fifty Day Moving Average – What’s Next?

ITM Power Plc (LON:ITM) shares passed above its 50-day moving average during trading on Monday . The stock has a 50-day moving average of GBX 66.73 and traded as high as GBX 71.50. ITM Power shares last traded at GBX 68.40, with a volume of 2,693,304 shares traded.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. Jefferies Financial Group lifted their price objective on shares of ITM Power from GBX 60 to GBX 115 and gave the company a “buy” rating in a report on Wednesday, October 1st. Berenberg Bank reiterated a “buy” rating and issued a GBX 100 price target on shares of ITM Power in a report on Thursday, December 4th. Finally, UBS Group reissued a “neutral” rating and issued a GBX 60 price target on shares of ITM Power in a research report on Friday, January 16th. Two research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, ITM Power has a consensus rating of “Moderate Buy” and an average target price of GBX 91.67.

ITM Power Price Performance

The company has a market cap of £418.99 million, a PE ratio of -9.19 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. The stock’s 50-day moving average is GBX 66.73 and its 200 day moving average is GBX 70.63.

Insider Buying and Selling at ITM Power

In other ITM Power news, insider Simon Bourne acquired 466 shares of the firm’s stock in a transaction dated Tuesday, December 16th. The stock was purchased at an average price of GBX 64 per share, for a total transaction of £298.24. Also, insider Dennis Schulz bought 466 shares of the company’s stock in a transaction that occurred on Tuesday, December 16th. The shares were acquired at an average price of GBX 64 per share, for a total transaction of £298.24. In the last quarter, insiders have bought 1,792 shares of company stock valued at $119,656. Company insiders own 8.73% of the company’s stock.

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.