ITM Power's (ITM) "Buy" Rating Reiterated at Jefferies Financial Group

ITM Power (LON:ITM - Get Free Report)'s stock had its "buy" rating reaffirmed by investment analysts at Jefferies Financial Group in a research note issued on Friday, Marketbeat.com reports. They presently have a GBX 60 ($0.76) target price on the stock. Jefferies Financial Group's price target would indicate a potential upside of 67.22% from the stock's previous close.

Several other analysts have also commented on the company. Royal Bank of Canada reissued an "outperform" rating and issued a GBX 70 ($0.89) price objective on shares of ITM Power in a report on Friday. Berenberg Bank reissued a "hold" rating and issued a GBX 59 ($0.75) price target on shares of ITM Power in a research note on Thursday.

ITM Power Price Performance

Shares of ITM stock traded up GBX 1.24 ($0.02) during mid-day trading on Friday, hitting GBX 35.88 ($0.46). 2,932,193 shares of the stock were exchanged, compared to its average volume of 2,573,540. ITM Power has a 52-week low of GBX 32.20 ($0.41) and a 52-week high of GBX 71.80 ($0.92). The company has a quick ratio of 7.56, a current ratio of 4.17 and a debt-to-equity ratio of 4.73. The company has a market cap of £221.26 million, a PE ratio of -897.00 and a beta of 2.03. The firm has a fifty day moving average of GBX 40.66 and a 200 day moving average of GBX 48.38.

Insider Buying and Selling

In other ITM Power news, insider Andy Allen bought 658 shares of the firm's stock in a transaction on Tuesday, October 15th. The shares were acquired at an average cost of GBX 46 ($0.59) per share, with a total value of £302.68 ($385.78). Also, insider Simon Bourne purchased 60,126 shares of the business's stock in a transaction that occurred on Wednesday, October 30th. The stock was bought at an average cost of GBX 42 ($0.54) per share, with a total value of £25,252.92 ($32,185.73). Over the last ninety days, insiders bought 61,497 shares of company stock worth $2,585,637. 48.26% of the stock is owned by corporate insiders.

About ITM Power

ITM Power Plc designs and manufactures proton exchange membrane (PEM) electrolysers in the United Kingdom, Germany, Australia, rest of Europe, and the United States. The company's product portfolio comprises TRIDENT, an PEM electrolysers stack technology; NEPTUNE, a 2MW plug and play electrolyser for small to mid-size projects; and POSEIDON, a 20 MW electrolysis process module for large-scale projects.