ITM Power (LON:ITM) Hits New 1-Year Low - Here's What Happened

ITM Power Plc (LON:ITM - Get Free Report) shares hit a new 52-week low on Wednesday . The stock traded as low as GBX 40.02 ($0.52) and last traded at GBX 40.52 ($0.53), with a volume of 1576917 shares. The stock had previously closed at GBX 40.28 ($0.52).

Wall Street Analyst Weigh In

Several research firms have recently commented on ITM. JPMorgan Chase & Co. downgraded ITM Power to a "neutral" rating and cut their price objective for the company from GBX 130 ($1.69) to GBX 90 ($1.17) in a report on Tuesday, July 9th. Berenberg Bank cut their price objective on ITM Power from GBX 60 ($0.78) to GBX 59 ($0.77) and set a "hold" rating for the company in a report on Thursday, August 15th.

ITM Power Trading Up 0.6 %

The company has a market cap of £249.88 million, a price-to-earnings ratio of -1,013.00 and a beta of 2.03. 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 firm has a fifty day moving average price of GBX 48.64 and a 200 day moving average price of GBX 51.74.

Insider Activity

In other ITM Power news, insider Andy Allen purchased 658 shares of the business's stock in a transaction on Tuesday, October 15th. The stock was acquired at an average price of GBX 46 ($0.60) per share, with a total value of £302.68 ($392.99). In other ITM Power news, insider Dennis Schulz purchased 518 shares of the business's stock in a transaction on Thursday, August 15th. The stock was acquired at an average price of GBX 58 ($0.75) per share, with a total value of £300.44 ($390.08). Also, insider Andy Allen purchased 658 shares of the business's stock in a transaction on Tuesday, October 15th. The shares were acquired at an average cost of GBX 46 ($0.60) per share, with a total value of £302.68 ($392.99). In the last 90 days, insiders purchased 1,484 shares of company stock valued at $75,404. 48.26% of the stock is owned by insiders.

ITM Power Company Profile

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.