ITM Power (LON:ITM) Insider Simon Bourne Purchases 227 Shares of Stock

ITM Power Plc (LON:ITM) insider Simon Bourne purchased 227 shares of the firm’s stock in a transaction that occurred on Thursday, January 15th. The stock was purchased at an average price of GBX 66 per share, with a total value of £149.82.

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

• On Tuesday, December 16th, Simon Bourne purchased 466 shares of ITM Power stock. The shares were purchased at an average price of GBX 64 per share, for a total transaction of £298.24.
• On Friday, November 14th, Simon Bourne bought 203 shares of ITM Power stock. The stock was acquired at an average cost of GBX 74 per share, for a total transaction of £150.22.

ITM Power Trading Down 2.1%

Shares of ITM Power stock opened at GBX 64.21 on Tuesday. 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 company has a market capitalization of £395.66 million, a P/E ratio of -8.68 and a beta of 2.03. ITM Power Plc has a 1 year low of GBX 25.08 and a 1 year high of GBX 98.45. The company’s fifty day moving average is GBX 67.70 and its two-hundred day moving average is GBX 71.33.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on ITM shares. Jefferies Financial Group boosted their target price on ITM Power from GBX 60 to GBX 115 and gave the company a “buy” rating in a report on Wednesday, October 1st. UBS Group reiterated a “neutral” rating and issued a GBX 60 price objective on shares of ITM Power in a research report on Friday. Finally, Berenberg Bank reissued a “buy” rating and issued a GBX 100 price objective on shares of ITM Power in a research note on Thursday, December 4th. Two equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, ITM Power presently has a consensus rating of “Moderate Buy” and an average price target of GBX 91.67.

About ITM Power

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.