Insider Buying: ITM Power (LON:ITM) Insider Buys £150.08 in Stock

ITM Power Plc (LON:ITM – Get Free Report) insider Simon Bourne purchased 134 shares of ITM Power stock in a transaction dated Wednesday, July 15th. The shares were acquired at an average cost of GBX 112 per share, for a total transaction of £150.08.

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

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• On Tuesday, June 16th, Simon Bourne acquired 113 shares of ITM Power stock. The shares were acquired at an average price of GBX 133 per share, with a total value of £150.29.
• On Friday, May 15th, Simon Bourne acquired 92 shares of ITM Power stock. The stock was acquired at an average cost of GBX 162 per share, with a total value of £149.04.

ITM Power Stock Down 1.6%

ITM Power stock opened at GBX 103.10 on Monday. ITM Power Plc has a 1-year low of GBX 56.80 and a 1-year high of GBX 219.80. The business has a fifty day moving average price of GBX 141.57 and a 200-day moving average price of GBX 100.48. The company has a debt-to-equity ratio of 6.99, a current ratio of 2.62 and a quick ratio of 7.56. The stock has a market capitalization of £711.60 million, a price-to-earnings ratio of -20.62 and a beta of 2.89.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on ITM. Berenberg Bank raised their price target on ITM Power from GBX 100 to GBX 110 and gave the stock a “buy” rating in a report on Tuesday, April 14th. Jefferies Financial Group upgraded shares of ITM Power to a “buy” rating and upped their price objective for the company from £115 to £200 in a report on Thursday, May 7th. Two equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, ITM Power currently has a consensus rating of “Moderate Buy” and a consensus target price of GBX 6,723.33.

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About ITM Power

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ITM Power designs and manufactures industrial-scale electrolysers for green hydrogen production. Its proprietary PEM technology, vertically integrated manufacturing, and in-house engineering capabilities enable it to supply standardised, high-performance hydrogen plants.

With a proven track record in large-scale projects, ITM Power helps leading industrial and energy companies achieve their decarbonisation goals. In addition to its equipment offering, the company provides reliable and cost-competitive hydrogen supply through its build, own and operate (BOO) model, Hydropulse.

Headquartered in the UK, ITM Power is listed on the London Stock Exchange AIM (LSE: ITM) and holds the Green Economy Mark, which recognises companies that generate over 50% of their revenues from green products and services.

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