ITM Power (LON:ITM) Stock Crosses Below 200-Day Moving Average – Time to Sell?

ITM Power Plc (LON:ITM) passed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 69.94 and traded as low as GBX 61.70. ITM Power shares last traded at GBX 64.21, with a volume of 1,231,629 shares trading hands.

Wall Street Analyst Weigh In

ITM has been the topic of a number of analyst reports. UBS Group reaffirmed a “neutral” rating and issued a GBX 60 price objective on shares of ITM Power in a report 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 investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, ITM Power presently has an average rating of “Moderate Buy” and an average target price of GBX 91.67.

ITM Power Price Performance

The stock has a market cap of £366.00 million, a price-to-earnings ratio of -11.88 and a beta of 2.03. The company’s 50 day moving average is GBX 65.44 and its 200 day moving average is GBX 69.94. The company has a debt-to-equity ratio of 4.73, a current ratio of 4.17 and a quick ratio of 7.56.

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

Insider Activity at ITM Power

In other news, insider Simon Bourne acquired 466 shares of ITM Power stock in a transaction that occurred on Tuesday, December 16th. The stock was purchased at an average cost of GBX 64 per share, with a total value of £298.24. Also, insider Dennis Schulz bought 466 shares of the firm’s stock in a transaction on Tuesday, December 16th. The shares were purchased at an average price of GBX 64 per share, for a total transaction of £298.24. Insiders purchased a total of 1,792 shares of company stock valued at $119,656 over the last ninety days. 8.73% of the stock is currently owned by company insiders.

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.