Insider Buying: ITM Power (LON:ITM) Insider Buys £298.24 in Stock

ITM Power Plc (LON:ITM) insider Dennis Schulz purchased 466 shares of ITM Power stock in a transaction on Tuesday, December 16th. The shares were purchased at an average cost of GBX 64 per share, with a total value of £298.24.

Dennis Schulz also recently made the following trade(s):

• On Friday, November 14th, Dennis Schulz acquired 203 shares of ITM Power stock. The stock was acquired at an average price of GBX 74 per share, for a total transaction of £150.22.
• On Wednesday, October 15th, Dennis Schulz acquired 177 shares of ITM Power stock. The stock was acquired at an average cost of GBX 85 per share, for a total transaction of £150.45.

ITM Power Stock Performance

Shares of ITM opened at GBX 64.70 on Friday. The stock has a market capitalization of £398.66 million, a price-to-earnings ratio of -8.74 and a beta of 2.03. ITM Power Plc has a 12 month low of GBX 25.08 and a 12 month high of GBX 98.45. The firm has a fifty day simple moving average of GBX 74.63 and a 200 day simple moving average of GBX 73.35. The company has a current ratio of 4.17, a quick ratio of 7.56 and a debt-to-equity ratio of 4.73.

Analysts Set New Price Targets

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, December 4th. Jefferies Financial Group increased their price target on ITM Power from GBX 60 to GBX 115 and gave the company a “buy” rating in a research report on Wednesday, October 1st. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, ITM Power currently has a consensus rating of “Moderate Buy” and a consensus price target of GBX 107.50.

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.