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

ITM Power Plc (LON:ITM) hit a new 52-week low during mid-day trading on Wednesday . The company traded as low as GBX 32.20 ($0.41) and last traded at GBX 34.50 ($0.44), with a volume of 1800714 shares changing hands. The stock had previously closed at GBX 33.66 ($0.43).

Analysts Set New Price Targets

Separately, Berenberg Bank reduced their price objective on shares of ITM Power from GBX 60 ($0.76) to GBX 59 ($0.75) and set a “hold” rating for the company in a report on Thursday, August 15th.

ITM Power Trading Up 2.5 %

The firm has a market capitalization of £212.74 million, a PE ratio of -850.00 and a beta of 2.03. The firm’s fifty day moving average is GBX 41.48 and its two-hundred day moving average is GBX 48.74. The company has a debt-to-equity ratio of 4.73, a current ratio of 4.17 and a quick ratio of 7.56.

Insider Buying and Selling

In related news, insider Simon Bourne acquired 60,126 shares of the stock in a transaction on Wednesday, October 30th. The shares were acquired at an average price of GBX 42 ($0.53) per share, with a total value of £25,252.92 ($31,998.12). Also, insider Andy Allen acquired 658 shares of the stock in a transaction on Tuesday, October 15th. The stock was bought at an average cost of GBX 46 ($0.58) per share, for a total transaction of £302.68 ($383.53). Over the last ninety days, insiders have bought 61,497 shares of company stock worth $2,585,637. 48.26% of the stock is owned by 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. 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.