ITM Power (LON:ITM) Reaches New 12-Month Low - Here's Why

ITM Power Plc (LON:ITM - Get Free Report)'s stock price hit a new 52-week low during trading on Thursday . The stock traded as low as GBX 28.52 ($0.36) and last traded at GBX 28.70 ($0.36), with a volume of 1977637 shares trading hands. The stock had previously closed at GBX 29.28 ($0.37).

Wall Street Analysts Forecast Growth

ITM has been the topic of several analyst reports. Jefferies Financial Group reiterated a "buy" rating and set a GBX 60 ($0.76) target price on shares of ITM Power in a report on Friday, December 6th. Royal Bank of Canada restated an "outperform" rating and set a GBX 70 ($0.89) price objective on shares of ITM Power in a report on Friday, December 6th. Finally, Berenberg Bank restated a "hold" rating and set a GBX 59 ($0.75) price objective on shares of ITM Power in a report on Thursday, December 5th.

ITM Power Stock Up 1.3 %

The company has a debt-to-equity ratio of 4.73, a quick ratio of 7.56 and a current ratio of 4.17. The company has a market capitalization of £183.09 million, a PE ratio of -6.72 and a beta of 2.03. The firm has a fifty day simple moving average of GBX 34.98 and a 200-day simple moving average of GBX 40.14.

ITM Power (LON:ITM - Get Free Report) last issued its quarterly earnings results on Friday, January 31st. The company reported GBX (4.70) (($0.06)) earnings per share for the quarter. ITM Power had a negative net margin of 164.90% and a negative return on equity of 9.97%. Equities research analysts anticipate that ITM Power Plc will post -8.9214682 EPS for the current fiscal year.

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Insider Activity

In other news, insider Amy Grey purchased 102,455 shares of the stock in a transaction dated Friday, February 28th. The stock was acquired at an average cost of GBX 29 ($0.37) per share, for a total transaction of £29,711.95 ($37,758.23). Also, insider Simon Bourne purchased 792 shares of the stock in a transaction dated Wednesday, January 15th. The stock was purchased at an average price of GBX 38 ($0.48) per share, with a total value of £300.96 ($382.46). In the last ninety days, insiders bought 104,089 shares of company stock worth $3,031,577. 48.26% of the stock is currently owned by insiders.

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.