Key Points
- Insider buying: ITM Power director Simon Bourne bought 134 shares on July 15 at GBX 112 each, following earlier purchases in June and May. His recent transactions suggest ongoing insider confidence in the company.
- Stock performance: ITM Power shares were down 1.6% and opened at GBX 103.10, well below the recent insider purchase price. The stock has traded between GBX 56.80 and GBX 219.80 over the past 12 months.
- Analyst view: Recent broker updates have been mixed but generally positive, with Berenberg and Jefferies both assigning buy ratings and raising price targets. MarketBeat’s consensus rating is Moderate Buy.
ITM Power Plc (LON:ITM - Get Free Report) insider Simon Bourne acquired 134 shares of the company's stock in a transaction that occurred on Wednesday, July 15th. The stock was purchased at an average cost of GBX 112 per share, with a total value of £150.08.
Simon Bourne also recently made the following trade(s):
- On Tuesday, June 16th, Simon Bourne acquired 113 shares of ITM Power stock. The shares were purchased at an average cost 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 price of GBX 162 per share, for a total transaction of £149.04.
ITM Power Stock Down 1.6%
Shares of LON ITM opened at GBX 103.10 on Friday. ITM Power Plc has a 12-month low of GBX 56.80 and a 12-month high of GBX 219.80. 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's 50-day moving average is GBX 141.57 and its two-hundred day moving average is GBX 100.22. The company has a market capitalization of £711.60 million, a PE ratio of -20.62 and a beta of 2.89.
Analysts Set New Price Targets
ITM has been the subject of a number of recent research reports. Berenberg Bank lifted their price objective on ITM Power from GBX 100 to GBX 110 and gave the stock a "buy" rating in a research report on Tuesday, April 14th. Jefferies Financial Group raised shares of ITM Power to a "buy" rating and lifted their target price for the stock from £115 to £200 in a research note on Thursday, May 7th. Two analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of GBX 6,723.33.
Check Out Our Latest Research Report on ITM
About ITM Power
(
Get Free Report)
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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