ITM Power (LON:ITM) Sets New 1-Year Low – What’s Next?

Shares of ITM Power Plc (LON:ITM) hit a new 52-week low on Thursday . The company traded as low as GBX 26.60 ($0.34) and last traded at GBX 27.16 ($0.35), with a volume of 2431195 shares traded. The stock had previously closed at GBX 27.98 ($0.36).

Analysts Set New Price Targets

Several equities analysts have commented on ITM shares. Berenberg Bank reiterated a “hold” rating and issued a GBX 59 ($0.76) target price on shares of ITM Power in a research report on Thursday, December 5th. Jefferies Financial Group restated a “buy” rating and issued a GBX 60 ($0.77) price target on shares of ITM Power in a research report on Friday, December 6th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a GBX 70 ($0.90) target price on shares of ITM Power in a research report on Friday, December 6th.

ITM Power Stock Performance

The company’s 50 day simple moving average is GBX 34.63 and its 200 day simple moving average is GBX 39.89. 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 stock has a market cap of £169.25 million, a PE ratio of -6.21 and a beta of 2.03.

ITM Power (LON:ITM) last issued its quarterly earnings results on Friday, January 31st. The company reported GBX (4.70) (($0.06)) EPS for the quarter. ITM Power had a negative net margin of 164.90% and a negative return on equity of 9.97%. Analysts expect that ITM Power Plc will post -8.9214682 earnings per share for the current year.

Insider Buying and Selling at ITM Power

In other ITM Power news, insider Amy Grey acquired 102,455 shares of the company’s stock in a transaction on Friday, February 28th. The shares were acquired at an average cost of GBX 29 ($0.37) per share, with a total value of £29,711.95 ($38,298.47). Also, insider Simon Bourne bought 792 shares of ITM Power stock in a transaction dated Wednesday, January 15th. The stock was acquired at an average price of GBX 38 ($0.49) per share, with a total value of £300.96 ($387.94). Insiders have purchased a total of 104,089 shares of company stock worth $3,031,577 over the last three months. 48.26% of the stock is currently owned by insiders.

ITM Power Company Profile

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.