ITM Power (LON:ITM) Hits New 52-Week Low - Time to Sell?

Shares of ITM Power Plc (LON:ITM - Get Free Report) hit a new 52-week low on Tuesday . The company traded as low as GBX 37.16 ($0.48) and last traded at GBX 39.13 ($0.51), with a volume of 3370823 shares. The stock had previously closed at GBX 40.34 ($0.52).

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. JPMorgan Chase & Co. lowered ITM Power to a "neutral" rating and dropped their price target for the stock from GBX 130 ($1.69) to GBX 90 ($1.17) in a research note on Tuesday, July 9th. Berenberg Bank dropped their price target on ITM Power from GBX 60 ($0.78) to GBX 59 ($0.77) and set a "hold" rating on the stock in a research note on Thursday, August 15th.

ITM Power Trading Down 3.3 %

The stock has a 50-day moving average of GBX 47.30 and a 200 day moving average of GBX 51.26. The stock has a market cap of £240.51 million, a PE ratio of -975.00 and a beta of 2.03. The company has a quick ratio of 7.56, a current ratio of 4.17 and a debt-to-equity ratio of 4.73.

Insider Activity at ITM Power

In other news, insider Dennis Schulz bought 518 shares of the company's stock in a transaction that occurred on Thursday, August 15th. The shares were purchased at an average price of GBX 58 ($0.75) per share, for a total transaction of £300.44 ($389.63). In related news, insider Dennis Schulz purchased 518 shares of the firm's stock in a transaction on Thursday, August 15th. The stock was bought at an average cost of GBX 58 ($0.75) per share, with a total value of £300.44 ($389.63). Also, insider Andy Allen purchased 658 shares of the firm's stock in a transaction on Tuesday, October 15th. The stock was bought at an average cost of GBX 46 ($0.60) per share, with a total value of £302.68 ($392.53). Insiders have bought a total of 1,484 shares of company stock worth $75,404 over the last quarter. Insiders own 48.26% of the company's stock.

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.