Insider Buying: ITM Power (LON:ITM) Insider Buys £20,072.64 in Stock

ITM Power Plc (LON:ITM) insider John Howarth bought 23,072 shares of the firm’s stock in a transaction that occurred on Tuesday, October 20th. The shares were purchased at an average cost of GBX 87 per share, for a total transaction of £20,072.64.

ITM Power Trading Up 0.9%

Shares of ITM stock opened at GBX 81.44 on Friday. The company has a quick ratio of 7.56, a current ratio of 2.73 and a debt-to-equity ratio of 5.87. The firm has a market cap of £562.14 million, a P/E ratio of -16.29 and a beta of 2.82. The business has a 50-day moving average price of GBX 99.40 and a two-hundred day moving average price of GBX 118.67. ITM Power Plc has a 12-month low of GBX 57.90 and a 12-month high of GBX 219.80.

ITM Power (LON:ITM) last posted its quarterly earnings results on Monday, October 19th. The company reported GBX (4) earnings per share (EPS) for the quarter. ITM Power had a negative return on equity of 11.09% and a negative net margin of 57.26%. Equities analysts anticipate that ITM Power Plc will post -8.92 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on ITM shares. Berenberg Bank reaffirmed a “buy” rating and set a GBX 200 price target on shares of ITM Power in a report on Monday, October 12th. Peel Hunt reissued a “hold” rating and set a GBX 92 price target on shares of ITM Power in a research note on Thursday, October 8th. Finally, JPMorgan Chase & Co. upped their price objective on shares of ITM Power from GBX 60 to GBX 80 and gave the stock a “neutral” rating in a research note on Wednesday, August 5th. Two analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of GBX 4,086.40.

About ITM Power

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.