ITM Power (LON:ITM) Insider Warren East Buys 172,000 Shares of Stock

ITM Power Plc (LON:ITM) insider Warren East acquired 172,000 shares of the firm’s stock in a transaction that occurred on Monday, June 29th. The stock was bought at an average price of GBX 115 per share, with a total value of £197,800.

ITM Power Stock Up 1.9%

Shares of LON:ITM opened at GBX 134.46 on Wednesday. The firm has a market cap of £928.06 million, a P/E ratio of -26.89 and a beta of 2.84. The company has a quick ratio of 7.56, a current ratio of 2.62 and a debt-to-equity ratio of 6.99. ITM Power Plc has a 12-month low of GBX 56.80 and a 12-month high of GBX 219.80. The business has a fifty day simple moving average of GBX 150.26 and a 200 day simple moving average of GBX 95.57.

Analyst Ratings Changes

ITM has been the topic of a number of recent analyst reports. Berenberg Bank lifted their price objective on ITM Power from GBX 100 to GBX 110 and gave the stock a “buy” rating in a research note on Tuesday, April 14th. Jefferies Financial Group raised shares of ITM Power to a “buy” rating and increased their target price for the company from £115 to £200 in a research report on Thursday, May 7th. Two equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from 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.