ITM Power Plc (LON:ITM - Get Free Report)'s share price traded up 12.8% during trading on Thursday . The company traded as high as GBX 39.92 ($0.50) and last traded at GBX 39.54 ($0.49). 4,975,889 shares were traded during mid-day trading, an increase of 86% from the average session volume of 2,669,707 shares. The stock had previously closed at GBX 35.04 ($0.44).
Analyst Upgrades and Downgrades
Several equities analysts recently weighed in on the stock. Royal Bank of Canada reissued an "outperform" rating and issued a GBX 70 ($0.87) target price on shares of ITM Power in a research note on Friday, December 6th. Berenberg Bank restated a "hold" rating and set a GBX 59 ($0.73) price objective on shares of ITM Power in a research note on Thursday, December 5th. Finally, Jefferies Financial Group reiterated a "buy" rating and issued a GBX 60 ($0.75) target price on shares of ITM Power in a research note on Friday, December 6th.
Get Our Latest Stock Report on ITM Power
ITM Power Trading Up 8.1 %
The firm's 50-day simple moving average is GBX 35.60 and its 200 day simple moving average is GBX 43.58. The firm has a market capitalization of £233.67 million, a price-to-earnings ratio of -947.30 and a beta of 2.03. The company has a debt-to-equity ratio of 4.73, a current ratio of 4.17 and a quick ratio of 7.56.
Insiders Place Their Bets
In other ITM Power news, insider Simon Bourne bought 792 shares of the business's stock in a transaction that occurred on Wednesday, January 15th. The shares were acquired at an average cost of GBX 38 ($0.47) per share, for a total transaction of £300.96 ($374.70). Over the last quarter, insiders have purchased 1,605 shares of company stock valued at $60,177. 48.26% of the stock is currently owned by insiders.
About ITM Power
(
Get Free Report)
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.
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