UBS Group Reiterates Neutral Rating for ITM Power (LON:ITM)

ITM Power (LON:ITM)‘s stock had its “neutral” rating reissued by research analysts at UBS Group in a report issued on Friday,London Stock Exchange reports. They presently have a GBX 60 price target on the stock. UBS Group’s target price suggests a potential downside of 8.81% from the company’s previous close.

ITM has been the subject of several other reports. Jefferies Financial Group raised their price target on shares of ITM Power from GBX 60 to GBX 115 and gave the stock a “buy” rating in a research note on Wednesday, October 1st. Berenberg Bank reissued a “buy” rating and set a GBX 100 target price on shares of ITM Power in a report on Thursday, December 4th. Two analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of GBX 91.67.

ITM Power Stock Down 0.3%

LON ITM traded down GBX 0.20 on Friday, reaching GBX 65.80. The company had a trading volume of 723,680 shares, compared to its average volume of 1,706,231. The company’s fifty day moving average is GBX 68.19 and its 200-day moving average is GBX 71.75. The firm has a market capitalization of £405.44 million, a price-to-earnings ratio of -8.89 and a beta of 2.03. The company has a debt-to-equity ratio of 4.73, a quick ratio of 7.56 and a current ratio of 4.17. ITM Power has a 1-year low of GBX 25.08 and a 1-year high of GBX 98.45.

Insider Activity

In other ITM Power news, insider Dennis Schulz purchased 466 shares of the stock in a transaction that occurred on Tuesday, December 16th. The shares were acquired at an average cost of GBX 64 per share, with a total value of £298.24. Also, insider Simon Bourne acquired 466 shares of the company’s stock in a transaction on Tuesday, December 16th. The stock was acquired at an average price of GBX 64 per share, with a total value of £298.24. Insiders purchased 1,338 shares of company stock worth $89,692 over the last 90 days. 8.73% of the stock is currently owned by corporate insiders.

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.