ITM Power (LON:ITM) was downgraded by First Berlin to a “sell” rating in a research note issued to investors on Wednesday, Digital Look reports. They presently have a GBX 100 ($1.32) target price on the stock, up from their previous target price of GBX 60 ($0.79). First Berlin’s target price would suggest a potential downside of 31.35% from the stock’s previous close.

ITM Power stock traded up GBX 5.67 ($0.07) during trading hours on Wednesday, hitting GBX 145.67 ($1.92). 3,724,945 shares of the stock traded hands, compared to its average volume of 307,138. The firm’s 50-day moving average price is GBX 101.95 and its two-hundred day moving average price is GBX 63.72. The company has a current ratio of 4.62, a quick ratio of 4.43 and a debt-to-equity ratio of 1.07. The company has a market cap of $682.66 million and a PE ratio of -35.53. ITM Power has a one year low of GBX 18.54 ($0.24) and a one year high of GBX 129 ($1.70).

In other news, insider Rachel Louise Smith sold 35,921 shares of ITM Power stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of GBX 68 ($0.89), for a total transaction of £24,426.28 ($32,131.39).

About ITM Power

ITM Power Plc designs, manufactures, and sells hydrogen energy systems for energy storage, clean fuel production, and renewable chemistry in the United Kingdom, Germany, Italy, rest of Europe, and North America. It offers HGas for power-to-gas applications. The company is also involved in the research and development of scientific and engineering projects; development and manufacture of prototype products; and sale of electrolysis equipment and hydrogen storage solutions.

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