ITM Power (LON:ITM) Trading Up 18.4% – Still a Buy?

ITM Power Plc (LON:ITM) shares shot up 18.4% during trading on Saturday . The stock traded as high as GBX 75.20 ($1.02) and last traded at GBX 72.70 ($0.98). 13,991,459 shares were traded during trading, an increase of 203% from the average session volume of 4,618,578 shares. The stock had previously closed at GBX 61.40 ($0.83).

Analyst Ratings Changes

Separately, Berenberg Bank reiterated a “hold” rating and issued a GBX 59 ($0.80) price objective on shares of ITM Power in a research note on Thursday, May 8th.

ITM Power Price Performance

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 £453.04 million, a PE ratio of -16.63 and a beta of 2.03. The company’s 50-day simple moving average is GBX 39.05 and its 200-day simple moving average is GBX 35.27.

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.