Simon Bourne Acquires 60,126 Shares of ITM Power Plc (LON:ITM) Stock

ITM Power Plc (LON:ITM) insider Simon Bourne bought 60,126 shares of the business’s stock in a transaction that occurred on Wednesday, October 30th. The shares were acquired at an average cost of GBX 42 ($0.54) per share, for a total transaction of £25,252.92 ($32,749.22).

ITM Power Stock Up 2.9 %

Shares of LON ITM opened at GBX 43.20 ($0.56) on Friday. The business has a 50-day moving average price of GBX 46.82 and a 200 day moving average price of GBX 51.09. ITM Power Plc has a 52-week low of GBX 37.16 ($0.48) and a 52-week high of GBX 71.80 ($0.93). 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 stock has a market cap of £266.41 million, a PE ratio of -1,080.00 and a beta of 2.03.

Wall Street Analysts Forecast Growth

ITM has been the topic of several recent research reports. Berenberg Bank cut 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 report on Thursday, August 15th. JPMorgan Chase & Co. cut shares of ITM Power to a “neutral” rating and lowered their price target for the stock from GBX 130 ($1.69) to GBX 90 ($1.17) in a report on Tuesday, July 9th.

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.