ITM Power (LON:ITM) Reaches New 12-Month Low – What’s Next?

ITM Power Plc (LON:ITM) shares reached a new 52-week low on Thursday . The company traded as low as GBX 35 ($0.44) and last traded at GBX 35.26 ($0.44), with a volume of 5662544 shares trading hands. The stock had previously closed at GBX 37.72 ($0.48).

Analyst Upgrades and Downgrades

Separately, Berenberg Bank lowered their price target on ITM Power from GBX 60 ($0.76) to GBX 59 ($0.74) and set a “hold” rating on the stock in a report on Thursday, August 15th.

ITM Power Stock Performance

The firm has a market capitalization of £223.61 million, a price-to-earnings ratio of -906.50 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. The firm’s 50-day moving average price is GBX 44.73 and its two-hundred day moving average price is GBX 50.29.

Insider Buying and Selling at ITM Power

In other news, insider Simon Bourne purchased 60,126 shares of the firm’s stock in a transaction dated Wednesday, October 30th. The stock was bought at an average price of GBX 42 ($0.53) per share, with a total value of £25,252.92 ($31,824.73). Also, insider Andy Allen purchased 658 shares of the company’s stock in a transaction dated Tuesday, October 15th. The shares were acquired at an average cost of GBX 46 ($0.58) per share, for a total transaction of £302.68 ($381.45). In the last quarter, insiders acquired 61,092 shares of company stock worth $2,570,652. 48.26% of the stock is currently owned by insiders.

ITM Power Company Profile

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