ITM Power (LON:ITM) Stock Passes Above 200-Day Moving Average – Here’s What Happened

ITM Power Plc (LON:ITM)’s stock price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 78.42 and traded as high as GBX 167. ITM Power shares last traded at GBX 164.10, with a volume of 3,054,093 shares.

Analyst Ratings Changes

ITM has been the subject of several research analyst reports. Jefferies Financial Group upgraded ITM Power to a “buy” rating and increased their price objective for the stock from £115 to £200 in a research report on Thursday, May 7th. Berenberg Bank increased their price objective on ITM Power from GBX 100 to GBX 110 and gave the stock a “buy” rating in a research report on Tuesday, April 14th. Finally, UBS Group reissued a “neutral” rating and issued a GBX 60 target price on shares of ITM Power in a report on Friday, January 16th. Two analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, ITM Power has an average rating of “Moderate Buy” and an average price target of GBX 6,723.33.

ITM Power Price Performance

The company has a quick ratio of 7.56, a current ratio of 2.62 and a debt-to-equity ratio of 6.99. The company has a market cap of £1.12 billion, a price-to-earnings ratio of -32.50 and a beta of 2.76. The company has a fifty day simple moving average of GBX 97.77 and a two-hundred day simple moving average of GBX 78.42.

ITM Power Company Profile

ITM Power designs and manufactures industrial-scale electrolysers for green hydrogen production. Its proprietary PEM technology, vertically integrated manufacturing, and in-house engineering capabilities enable it to supply standardised, high-performance hydrogen plants.

With a proven track record in large-scale projects, ITM Power helps leading industrial and energy companies achieve their decarbonisation goals. In addition to its equipment offering, the company provides reliable and cost-competitive hydrogen supply through its build, own and operate (BOO) model, Hydropulse.

Headquartered in the UK, ITM Power is listed on the London Stock Exchange AIM (LSE: ITM) and holds the Green Economy Mark, which recognises companies that generate over 50% of their revenues from green products and services.