Insider Buying: ITM Power (LON:ITM) Insider Acquires £150.08 in Stock

ITM Power Plc (LON:ITM) insider Dennis Schulz acquired 134 shares of the business’s stock in a transaction on Wednesday, July 15th. The shares were bought at an average cost of GBX 112 per share, with a total value of £150.08.

Dennis Schulz also recently made the following trade(s):

• On Friday, May 15th, Dennis Schulz bought 92 shares of ITM Power stock. The stock was bought at an average cost of GBX 162 per share, for a total transaction of £149.04.

ITM Power Price Performance

ITM stock opened at GBX 103.10 on Monday. The company has a debt-to-equity ratio of 6.99, a quick ratio of 7.56 and a current ratio of 2.62. The company’s fifty day moving average price is GBX 141.57 and its 200-day moving average price is GBX 100.48. ITM Power Plc has a one year low of GBX 56.80 and a one year high of GBX 219.80. The company has a market capitalization of £711.60 million, a PE ratio of -20.62 and a beta of 2.89.

Wall Street Analysts Forecast Growth

Several research analysts have commented on ITM shares. Jefferies Financial Group raised shares of ITM Power to a “buy” rating and increased their price objective for the company from £115 to £200 in a report on Thursday, May 7th. Berenberg Bank lifted their target price on ITM Power from GBX 100 to GBX 110 and gave the stock a “buy” rating in a report on Tuesday, April 14th. Two investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of GBX 6,723.33.

ITM Power Company Profile

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.