ITM Power (LON:ITM) Insider Acquires £149.82 in Stock

ITM Power Plc (LON:ITM) insider Simon Bourne purchased 227 shares of the firm’s stock in a transaction on Thursday, January 15th. The stock was bought at an average price of GBX 66 per share, with a total value of £149.82.

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

• On Tuesday, December 16th, Simon Bourne purchased 466 shares of ITM Power stock. The shares were bought at an average cost of GBX 64 per share, for a total transaction of £298.24.
• On Friday, November 14th, Simon Bourne acquired 203 shares of ITM Power stock. The stock was bought at an average cost of GBX 74 per share, with a total value of £150.22.

ITM Power Price Performance

LON:ITM opened at GBX 66.40 on Thursday. The stock has a market capitalization of £409.13 million, a PE ratio of -8.97 and a beta of 2.03. ITM Power Plc has a 1-year low of GBX 25.08 and a 1-year high of GBX 98.45. The firm has a fifty day simple moving average of GBX 67.21 and a 200 day simple moving average of GBX 71.11. The company has a current ratio of 4.17, a quick ratio of 7.56 and a debt-to-equity ratio of 4.73.

Analysts Set New Price Targets

Several research firms have recently weighed in on ITM. Jefferies Financial Group upped their target price 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. UBS Group restated a “neutral” rating and issued a GBX 60 price objective on shares of ITM Power in a research note on Friday, January 16th. Finally, Berenberg Bank reaffirmed a “buy” rating and issued a GBX 100 price objective on shares of ITM Power in a research report on Thursday, December 4th. Two equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target 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.