Insider Buying: ITM Power (LON:ITM) Insider Acquires £150.48 in Stock

ITM Power Plc (LON:ITM) insider Simon Bourne bought 152 shares of the business’s stock in a transaction on Tuesday, September 15th. The shares were acquired at an average cost of GBX 99 per share, with a total value of £150.48.

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

• On Wednesday, July 15th, Simon Bourne purchased 134 shares of ITM Power stock. The stock was acquired at an average cost of GBX 112 per share, for a total transaction of £150.08.

ITM Power Stock Performance

Shares of ITM Power stock opened at GBX 103.30 on Friday. The firm has a market cap of £712.98 million, a PE ratio of -20.66 and a beta of 2.85. 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 52 week low of GBX 57.90 and a 52 week high of GBX 219.80. The business’s fifty day simple moving average is GBX 105.74 and its 200-day simple moving average is GBX 113.17.

Wall Street Analysts Forecast Growth

Separately, JPMorgan Chase & Co. upped their target price on shares of ITM Power from GBX 60 to GBX 80 and gave the company a “neutral” rating in a research report on Wednesday, August 5th. Two equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, ITM Power has an average rating of “Moderate Buy” and a consensus target price of GBX 5,062.50.

About ITM Power

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.