Insider Buying: ITM Power (LON:ITM) Insider Purchases 241 Shares of Stock

ITM Power Plc (LON:ITM) insider Simon Bourne bought 241 shares of the stock in a transaction that occurred on Monday, February 16th. The shares were bought at an average price of GBX 62 per share, for a total transaction of £149.42.

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

• On Thursday, January 15th, Simon Bourne purchased 227 shares of ITM Power stock. The stock was bought at an average price of GBX 66 per share, with a total value of £149.82.
• On Tuesday, December 16th, Simon Bourne acquired 466 shares of ITM Power stock. The stock was bought at an average cost of GBX 64 per share, for a total transaction of £298.24.

ITM Power Stock Down 0.8%

ITM stock opened at GBX 66.14 on Wednesday. The business’s 50-day moving average price is GBX 64.03 and its 200-day moving average price is GBX 69.90. The stock has a market cap of £407.51 million, a P/E ratio of -13.23 and a beta of 2.03. The company has a quick ratio of 7.56, a current ratio of 4.17 and a debt-to-equity ratio of 4.73. ITM Power Plc has a twelve month low of GBX 25.08 and a twelve month high of GBX 98.45.

ITM Power (LON:ITM) last released its earnings results on Thursday, January 29th. The company reported GBX (2.30) EPS for the quarter. ITM Power had a negative return on equity of 9.97% and a negative net margin of 164.90%. On average, equities research analysts forecast that ITM Power Plc will post -8.9214682 EPS for the current year.

Analyst Upgrades and Downgrades

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

ITM Power Company Profile

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.