ITM Power (LON:ITM) Insider Simon Bourne Buys 234 Shares

ITM Power Plc (LON:ITM) insider Simon Bourne purchased 234 shares of the company’s stock in a transaction that occurred on Monday, March 16th. The shares were purchased at an average cost of GBX 64 per share, with a total value of £149.76.

Simon Bourne also recently made the following trade(s):

• On Monday, February 16th, Simon Bourne purchased 241 shares of ITM Power stock. The shares were purchased at an average price of GBX 62 per share, with a total value of £149.42.
• On Thursday, January 15th, Simon Bourne acquired 227 shares of ITM Power stock. The stock was purchased at an average cost of GBX 66 per share, for a total transaction of £149.82.

ITM Power Stock Down 2.5%

Shares of ITM opened at GBX 63.30 on Thursday. The stock has a market capitalization of £390.03 million, a price-to-earnings ratio of -12.66 and a beta of 2.27. ITM Power Plc has a 1 year low of GBX 25.20 and a 1 year high of GBX 98.45. The business’s 50 day simple moving average is GBX 63.98 and its 200-day simple moving average is GBX 69.27. The company has a debt-to-equity ratio of 6.99, a current ratio of 2.62 and a quick ratio of 7.56.

ITM Power (LON:ITM) last posted its earnings results on Thursday, January 29th. The company reported GBX (2.30) earnings per share for the quarter. ITM Power had a negative net margin of 108.00% and a negative return on equity of 14.17%. As a group, equities analysts expect that ITM Power Plc will post -8.9214682 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Berenberg Bank reissued a “buy” rating and issued a GBX 100 price objective on shares of ITM Power in a research note on Thursday, January 29th. UBS Group reaffirmed a “neutral” rating and issued a GBX 60 price target on shares of ITM Power in a report on Friday, January 16th. Two analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of GBX 91.67.

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.