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

ITM Power Plc (LON:ITM)’s stock price reached a new 52-week low during trading on Wednesday . The company traded as low as GBX 40.02 ($0.52) and last traded at GBX 40.52 ($0.53), with a volume of 1576917 shares traded. The stock had previously closed at GBX 40.28 ($0.52).

Wall Street Analysts Forecast Growth

ITM has been the topic of several recent research reports. JPMorgan Chase & Co. lowered shares of ITM Power to a “neutral” rating and cut their price objective for the company from GBX 130 ($1.69) to GBX 90 ($1.17) in a research report on Tuesday, July 9th. Berenberg Bank decreased their price objective on shares of ITM Power from GBX 60 ($0.78) to GBX 59 ($0.77) and set a “hold” rating for the company in a report on Thursday, August 15th.

ITM Power Trading Up 0.2 %

The stock has a market capitalization of £247.04 million, a price-to-earnings ratio of -1,000.50 and a beta of 2.03. The company has a current ratio of 4.17, a quick ratio of 7.56 and a debt-to-equity ratio of 4.73. The company has a fifty day moving average of GBX 48 and a two-hundred day moving average of GBX 51.58.

Insider Transactions at ITM Power

In other news, insider Dennis Schulz purchased 518 shares of the firm’s stock in a transaction on Thursday, August 15th. The stock was bought at an average cost of GBX 58 ($0.75) per share, for a total transaction of £300.44 ($390.08). In related news, insider Andy Allen acquired 658 shares of the stock in a transaction dated Tuesday, October 15th. The shares were acquired at an average price of GBX 46 ($0.60) per share, for a total transaction of £302.68 ($392.99). Also, insider Dennis Schulz bought 518 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The shares were bought at an average price of GBX 58 ($0.75) per share, with a total value of £300.44 ($390.08). Over the last three months, insiders bought 1,484 shares of company stock worth $75,404. 48.26% of the stock is owned by insiders.

ITM Power Company Profile

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.