Insider Buying: ITM Power Plc (LON:ITM) Insider Acquires 408 Shares of Stock

ITM Power Plc (LON:ITM) insider Simon Bourne bought 408 shares of ITM Power stock in a transaction dated Friday, December 13th. The stock was acquired at an average price of GBX 37 ($0.47) per share, for a total transaction of £150.96 ($191.91).

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

• On Friday, November 15th, Simon Bourne purchased 405 shares of ITM Power stock. The stock was bought at an average price of GBX 37 ($0.47) per share, with a total value of £149.85 ($190.50).
• On Wednesday, October 30th, Simon Bourne acquired 60,126 shares of ITM Power stock. The stock was bought at an average cost of GBX 42 ($0.53) per share, with a total value of £25,252.92 ($32,103.89).

ITM Power Stock Performance

ITM Power stock opened at GBX 33.16 ($0.42) on Wednesday. The company has a debt-to-equity ratio of 4.73, a quick ratio of 7.56 and a current ratio of 4.17. The company has a market capitalization of £204.49 million, a PE ratio of -829.00 and a beta of 2.03. The company has a 50 day moving average price of GBX 38.74 and a 200-day moving average price of GBX 47.32. ITM Power Plc has a fifty-two week low of GBX 32.20 ($0.41) and a fifty-two week high of GBX 71.80 ($0.91).

Wall Street Analyst Weigh In

ITM has been the topic of several recent research reports. Berenberg Bank restated a “hold” rating and set a GBX 59 ($0.75) price target on shares of ITM Power in a report on Thursday, December 5th. Royal Bank of Canada reissued an “outperform” rating and issued a GBX 70 ($0.89) price objective on shares of ITM Power in a research report on Friday, December 6th. Finally, Jefferies Financial Group reiterated a “buy” rating and set a GBX 60 ($0.76) target price on shares of ITM Power in a research report on Friday, December 6th.

ITM Power Company Profile

ITM Power Plc designs and manufactures proton exchange membrane (PEM) electrolysers in the United Kingdom, Germany, Australia, rest of Europe, and the United States. The company’s product portfolio comprises TRIDENT, an PEM electrolysers stack technology; NEPTUNE, a 2MW plug and play electrolyser for small to mid-size projects; and POSEIDON, a 20 MW electrolysis process module for large-scale projects.