ITM Power (LON:ITM) Insider Simon Bourne Purchases 92 Shares

ITM Power Plc (LON:ITM) insider Simon Bourne purchased 92 shares of ITM Power stock in a transaction that occurred on Friday, May 15th. The shares were bought at an average cost of GBX 162 per share, for a total transaction of £149.04.

Simon Bourne also recently made the following trade(s):

• On Monday, March 16th, Simon Bourne bought 234 shares of ITM Power stock. The stock was acquired at an average cost of GBX 64 per share, for a total transaction of £149.76.

ITM Power Trading Up 5.7%

Shares of ITM stock opened at GBX 168.70 on Monday. The stock’s fifty day moving average price is GBX 99.70 and its two-hundred day moving average price is GBX 78.99. The company has a market cap of £1.16 billion, a PE ratio of -33.74 and a beta of 2.76. ITM Power Plc has a fifty-two week low of GBX 44 and a fifty-two week high of GBX 179.70. The company has a debt-to-equity ratio of 6.99, a quick ratio of 7.56 and a current ratio of 2.62.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on ITM. Jefferies Financial Group raised ITM Power to a “buy” rating and raised their target price for the company from £115 to £200 in a report on Thursday, May 7th. Berenberg Bank raised their target price on ITM Power from GBX 100 to GBX 110 and gave the company a “buy” rating in a report on Tuesday, April 14th. Two investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, ITM Power presently has a consensus rating of “Moderate Buy” and an average price target of GBX 6,723.33.

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.