Berenberg Bank Reiterates “Hold” Rating for ITM Power (LON:ITM)

Berenberg Bank reaffirmed their hold rating on shares of ITM Power (LON:ITM) in a research note published on Thursday, Marketbeat reports. The firm currently has a GBX 59 ($0.75) price target on the stock.

ITM Power Trading Up 3.6 %

ITM opened at GBX 35.88 ($0.46) on Thursday. 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 business has a fifty day simple moving average of GBX 40.66 and a 200-day simple moving average of GBX 48.38. The firm has a market cap of £221.26 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.

Insider Transactions at ITM Power

In related news, insider Simon Bourne acquired 60,126 shares of ITM Power stock in a transaction dated 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 ($32,185.73). Also, insider Andy Allen acquired 658 shares of ITM Power stock in a transaction dated Tuesday, October 15th. The stock was bought at an average price of GBX 46 ($0.59) per share, for a total transaction of £302.68 ($385.78). Insiders bought a total of 61,497 shares of company stock worth $2,585,637 over the last ninety days. Company 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.