Insider Buying: ITM Power (LON:ITM) Insider Purchases £150.48 in Stock

ITM Power Plc (LON:ITM – Get Free Report) insider Simon Bourne acquired 152 shares of the firm’s stock in a transaction on Tuesday, September 15th. The shares were acquired at an average price of GBX 99 per share, with a total value of £150.48.

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

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• On Wednesday, July 15th, Simon Bourne bought 134 shares of ITM Power stock. The stock was acquired at an average price of GBX 112 per share, for a total transaction of £150.08.

ITM Power Price Performance

LON ITM opened at GBX 102.10 on Thursday. 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 firm has a market capitalization of £704.70 million, a price-to-earnings ratio of -20.42 and a beta of 2.85. The company has a 50 day simple moving average of GBX 106.28 and a 200-day simple moving average of GBX 112.98. ITM Power Plc has a 52-week low of GBX 57.90 and a 52-week high of GBX 219.80.

Analysts Set New Price Targets

Separately, JPMorgan Chase & Co. increased their target price on shares of ITM Power from GBX 60 to GBX 80 and gave the stock a “neutral” rating in a research report on Wednesday, August 5th. Two equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, ITM Power has an average rating of “Moderate Buy” and a consensus price target of GBX 5,062.50.

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ITM Power Company Profile

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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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