Insider Buying: ITM Power (LON:ITM) Insider Purchases £150.45 in Stock

ITM Power Plc (LON:ITM) insider Simon Bourne bought 177 shares of the business’s stock in a transaction dated Wednesday, October 15th. The shares were bought at an average price of GBX 85 per share, with a total value of £150.45.

Simon Bourne also recently made the following trade(s):

• On Monday, September 15th, Simon Bourne purchased 235 shares of ITM Power stock. The shares were acquired at an average cost of GBX 64 per share, for a total transaction of £150.40.
• On Friday, August 15th, Simon Bourne bought 224 shares of ITM Power stock. The stock was purchased at an average cost of GBX 67 per share, for a total transaction of £150.08.

ITM Power Trading Down 4.8%

ITM opened at GBX 78.65 on Monday. The company’s 50 day moving average is GBX 71.71 and its 200-day moving average is GBX 61.86. ITM Power Plc has a 1-year low of GBX 25.08 and a 1-year high of GBX 98.45. 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 market cap of £484.62 million, a P/E ratio of -1,062.85 and a beta of 2.03.

ITM Power (LON:ITM) last issued its quarterly earnings results on Thursday, August 14th. The company reported GBX (7.40) earnings per share (EPS) for the quarter. ITM Power had a negative return on equity of 9.97% and a negative net margin of 164.90%. Equities research analysts predict that ITM Power Plc will post -8.9214682 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. JPMorgan Chase & Co. reiterated a “neutral” rating on shares of ITM Power in a research note on Monday, July 28th. Berenberg Bank restated a “buy” rating and set a GBX 100 price target on shares of ITM Power in a research report on Thursday, August 14th. Finally, Jefferies Financial Group upped their price objective on shares of ITM Power from GBX 60 to GBX 115 and gave the company a “buy” rating in a report on Wednesday, October 1st. Three investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of GBX 95.

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.