ITM Power (LON:ITM) Downgraded by JPMorgan Chase & Co. to Neutral

JPMorgan Chase & Co. cut shares of ITM Power (LON:ITM) to a neutral rating in a research note released on Tuesday morning, Marketbeat Ratings reports. They currently have GBX 90 ($1.15) price target on the stock, down from their previous price target of GBX 130 ($1.67).

ITM Power Stock Performance

Shares of LON ITM opened at GBX 65.50 ($0.84) on Tuesday. The business’s 50-day simple moving average is GBX 53.92 and its 200-day simple moving average is GBX 54.28. ITM Power has a 52 week low of GBX 42.90 ($0.55) and a 52 week high of GBX 99 ($1.27). The company has a debt-to-equity ratio of 2.62, a quick ratio of 7.56 and a current ratio of 4.45. The firm has a market cap of £404.12 million, a price-to-earnings ratio of -655.00 and a beta of 1.78.

Insider Activity

In other news, insider Dennis Schulz acquired 524 shares of the firm’s stock in a transaction that occurred on Wednesday, May 15th. The stock was acquired at an average cost of GBX 57 ($0.73) per share, with a total value of £298.68 ($382.58). Insiders have bought a total of 1,103 shares of company stock valued at $59,967 over the last 90 days. 32.42% of the stock is currently owned by company insiders.

About ITM Power

ITM Power Plc designs and manufactures proton exchange membrane (PEM) electrolysers in the United Kingdom, Germany, Australia, rest of Europe, and the United States. Its product portfolio includes TRIDENT, an PEM electrolysers stack technology; NEPTUNE, a 2MW plug and play electrolyser for small to mid-size projects; and POSEIDON, a cutting-edge 20 MW module for large-scale projects.