ITM Power Plc (LON:ITM – Get Free Report) shares reached a new 52-week low on Thursday . The stock traded as low as GBX 32.90 ($0.42) and last traded at GBX 34.24 ($0.43), with a volume of 3530574 shares traded. The stock had previously closed at GBX 34.10 ($0.43).
Wall Street Analyst Weigh In
Separately, Berenberg Bank reduced their price objective on ITM Power from GBX 60 ($0.76) to GBX 59 ($0.75) and set a “hold” rating for the company in a research note on Thursday, August 15th.
View Our Latest Research Report on ITM Power
ITM Power Stock Up 0.4 %
Insider Activity
In other news, insider Simon Bourne acquired 60,126 shares of the company’s stock in a transaction that occurred on Wednesday, October 30th. The shares were bought at an average price of GBX 42 ($0.53) per share, with a total value of £25,252.92 ($31,953.59). Also, insider Andy Allen bought 658 shares of the company’s stock in a transaction on Tuesday, October 15th. The shares were acquired at an average price of GBX 46 ($0.58) per share, for a total transaction of £302.68 ($382.99). Insiders have bought 61,497 shares of company stock worth $2,585,637 in the last three months. Company insiders own 48.26% of the company’s stock.
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.
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