ITM Power (LON:ITM) Stock Price Crosses Below Two Hundred Day Moving Average – Should You Sell?

ITM Power Plc (LON:ITM)’s stock price passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 69.45 and traded as low as GBX 62.70. ITM Power shares last traded at GBX 63.20, with a volume of 1,922,325 shares.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Berenberg Bank restated a “buy” rating and issued a GBX 100 price objective on shares of ITM Power in a report on Thursday, January 29th. UBS Group reiterated a “neutral” rating and set a GBX 60 target price on shares of ITM Power in a report on Friday, January 16th. Two research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of GBX 91.67.

ITM Power Stock Performance

The company has a market capitalization of £392.87 million, a P/E ratio of -12.75 and a beta of 2.27. The stock’s fifty day moving average price is GBX 64.05 and its 200-day moving average price is GBX 69.37. The company has a debt-to-equity ratio of 6.99, a quick ratio of 7.56 and a current ratio of 2.62.

ITM Power (LON:ITM) last posted its quarterly earnings results on Thursday, January 29th. The company reported GBX (2.30) EPS for the quarter. ITM Power had a negative return on equity of 14.17% and a negative net margin of 108.00%. As a group, research analysts anticipate that ITM Power Plc will post -8.9214682 EPS for the current fiscal year.

Insider Transactions at ITM Power

In other ITM Power news, insider Simon Bourne acquired 466 shares of the business’s stock in a transaction on Tuesday, December 16th. The stock was purchased at an average price of GBX 64 per share, with a total value of £298.24. Also, insider Dennis Schulz bought 466 shares of the firm’s stock in a transaction on Tuesday, December 16th. The shares were acquired at an average price of GBX 64 per share, for a total transaction of £298.24. In the last three months, insiders bought 1,868 shares of company stock valued at $119,496. 8.73% of the stock is currently owned by company insiders.

ITM Power Company Profile

ITM Power was founded in 2000, and ITM Power PLC was admitted to the London Stock Exchange’s AIM market in 2004.

Headquartered in Sheffield, England, ITM Power designs and manufactures electrolysers based on proton exchange membrane (PEM) technology to produce green hydrogen, the only net zero energy gas, using renewable electricity and water.