ITM Power (LON:ITM) Insider Simon Bourne Acquires 134 Shares

ITM Power Plc (LON:ITM) insider Simon Bourne bought 134 shares of the stock in a transaction on Wednesday, July 15th. The stock was bought at an average price of GBX 112 per share, for a total transaction of £150.08.

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

• On Tuesday, June 16th, Simon Bourne purchased 113 shares of ITM Power stock. The shares were bought at an average price of GBX 133 per share, with a total value of £150.29.
• On Friday, May 15th, Simon Bourne purchased 92 shares of ITM Power stock. The shares were bought at an average price of GBX 162 per share, with a total value of £149.04.

ITM Power Price Performance

Shares of LON ITM opened at GBX 103.10 on Friday. The stock has a fifty day moving average price of GBX 141.57 and a 200 day moving average price of GBX 100.22. ITM Power Plc has a 1-year low of GBX 56.80 and a 1-year high of GBX 219.80. The company has a debt-to-equity ratio of 6.99, a current ratio of 2.62 and a quick ratio of 7.56. The company has a market cap of £711.60 million, a PE ratio of -20.62 and a beta of 2.89.

Analysts Set New Price Targets

Several brokerages have recently weighed in on ITM. Jefferies Financial Group raised shares of ITM Power to a “buy” rating and lifted their target price for the company from £115 to £200 in a report on Thursday, May 7th. Berenberg Bank raised their price target on ITM Power from GBX 100 to GBX 110 and gave the company a “buy” rating in a report on Tuesday, April 14th. Two equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of GBX 6,723.33.

About ITM Power

ITM Power designs and manufactures industrial-scale electrolysers for green hydrogen production. Its proprietary PEM technology, vertically integrated manufacturing, and in-house engineering capabilities enable it to supply standardised, high-performance hydrogen plants.

With a proven track record in large-scale projects, ITM Power helps leading industrial and energy companies achieve their decarbonisation goals. In addition to its equipment offering, the company provides reliable and cost-competitive hydrogen supply through its build, own and operate (BOO) model, Hydropulse.

Headquartered in the UK, ITM Power is listed on the London Stock Exchange AIM (LSE: ITM) and holds the Green Economy Mark, which recognises companies that generate over 50% of their revenues from green products and services.