Insider Buying: ITM Power Plc (LON:ITM) Insider Acquires £150.92 in Stock

ITM Power Plc (LON:ITM) insider Dennis Schulz bought 308 shares of the stock in a transaction dated Friday, September 13th. The shares were acquired at an average price of GBX 49 ($0.65) per share, with a total value of £150.92 ($199.37).

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

• On Thursday, August 15th, Dennis Schulz bought 518 shares of ITM Power stock. The shares were acquired at an average price of GBX 58 ($0.77) per share, with a total value of £300.44 ($396.88).
• On Monday, July 15th, Dennis Schulz purchased 232 shares of ITM Power stock. The shares were purchased at an average cost of GBX 65 ($0.86) per share, with a total value of £150.80 ($199.21).

ITM Power Stock Performance

LON:ITM opened at GBX 48.50 ($0.64) on Thursday. The stock has a 50-day simple moving average of GBX 52.68 and a two-hundred day simple moving average of GBX 52.98. ITM Power Plc has a 52-week low of GBX 42.90 ($0.57) and a 52-week high of GBX 84.96 ($1.12). 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 firm has a market capitalization of £299.42 million, a PE ratio of -1,212.50 and a beta of 2.03.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Berenberg Bank lowered their price target on ITM Power from GBX 60 ($0.79) to GBX 59 ($0.78) and set a “hold” rating on the stock in a report on Thursday, August 15th. JPMorgan Chase & Co. lowered ITM Power to a “neutral” rating and cut their price objective for the stock from GBX 130 ($1.72) to GBX 90 ($1.19) in a report on Tuesday, July 9th.

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. Its product portfolio includes TRIDENT, an PEM electrolysers stack technology; NEPTUNE, a 2MW plug and play electrolyser for small to mid-size projects; and POSEIDON, a cutting-edge 20 MW module for large-scale projects.