Insider Buying: ITM Power Plc (LON:ITM) Insider Acquires £29,711.95 in Stock

ITM Power Plc (LON:ITM) insider Amy Grey purchased 102,455 shares of the stock in a transaction that occurred on Friday, February 28th. The stock was bought at an average price of GBX 29 ($0.37) per share, with a total value of £29,711.95 ($38,298.47).

ITM Power Stock Up 2.6 %

LON:ITM opened at GBX 27.98 ($0.36) on Thursday. The company has a current ratio of 4.17, a quick ratio of 7.56 and a debt-to-equity ratio of 4.73. ITM Power Plc has a twelve month low of GBX 27 ($0.35) and a twelve month high of GBX 71.80 ($0.93). The company has a market cap of £174.36 million, a PE ratio of -6.40 and a beta of 2.03. The company’s 50 day moving average is GBX 34.80 and its two-hundred day moving average is GBX 39.97.

ITM Power (LON:ITM) last announced its quarterly earnings data on Friday, January 31st. The company reported GBX (4.70) (($0.06)) earnings per share for the quarter. ITM Power had a negative net margin of 164.90% and a negative return on equity of 9.97%. Analysts anticipate that ITM Power Plc will post -8.9214682 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Jefferies Financial Group restated a “buy” rating and issued a GBX 60 ($0.77) price target on shares of ITM Power in a report on Friday, December 6th. Royal Bank of Canada restated an “outperform” rating and issued a GBX 70 ($0.90) target price on shares of ITM Power in a research note on Friday, December 6th. Finally, Berenberg Bank reaffirmed a “hold” rating and set a GBX 59 ($0.76) price target on shares of ITM Power in a research note on Thursday, December 5th.

ITM Power Company Profile

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.