ITM Power (LON:ITM) Earns “Buy” Rating from Jefferies Financial Group

Jefferies Financial Group reiterated their buy rating on shares of ITM Power (LON:ITM) in a report issued on Friday, MarketBeat.com reports. They currently have a GBX 60 ($0.76) price objective on the stock.

ITM has been the topic of a number of other reports. Berenberg Bank reissued a “hold” rating and issued a GBX 59 ($0.75) price objective on shares of ITM Power in a research note on Thursday. Royal Bank of Canada reaffirmed an “outperform” rating and issued a GBX 70 ($0.89) target price on shares of ITM Power in a report on Friday.

ITM Power Price Performance

ITM stock opened at GBX 35.01 ($0.45) on Friday. The company’s 50-day moving average price is GBX 40.66 and its two-hundred day moving average price is GBX 48.33. The firm has a market cap of £215.90 million, a P/E ratio of -897.00 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. ITM Power has a 12 month low of GBX 32.20 ($0.41) and a 12 month high of GBX 71.80 ($0.91).

Insider Activity at ITM Power

In other news, insider Andy Allen bought 658 shares of the stock in a transaction on Tuesday, October 15th. The stock was acquired at an average price of GBX 46 ($0.59) per share, with a total value of £302.68 ($385.73). Also, insider Simon Bourne bought 60,126 shares of the company’s stock in a transaction on Wednesday, October 30th. The stock was purchased at an average price of GBX 42 ($0.54) per share, with a total value of £25,252.92 ($32,181.62). In the last three months, insiders have purchased 61,497 shares of company stock valued at $2,585,637. 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.