ITM Power (LON:ITM) Price Target Lowered to GBX 59 at Berenberg Bank

ITM Power (LON:ITM) had its price target trimmed by Berenberg Bank from GBX 60 ($0.77) to GBX 59 ($0.75) in a research report sent to investors on Thursday morning, MarketBeat.com reports. The brokerage currently has a hold rating on the stock.

Separately, JPMorgan Chase & Co. downgraded ITM Power to a neutral rating and reduced their price objective for the stock from GBX 130 ($1.66) to GBX 90 ($1.15) in a research report on Tuesday, July 9th.

ITM Power Stock Performance

Shares of LON ITM opened at GBX 51.60 ($0.66) on Thursday. The company has a current ratio of 4.45, a quick ratio of 7.56 and a debt-to-equity ratio of 2.62. The stock has a 50 day simple moving average of GBX 52.77 and a 200-day simple moving average of GBX 54.48. The company has a market cap of £318.56 million, a PE ratio of -516.00 and a beta of 2.07. ITM Power has a 12-month low of GBX 42.90 ($0.55) and a 12-month high of GBX 94 ($1.20).

Insider Transactions at ITM Power

In other news, insider Dennis Schulz bought 518 shares of the business’s stock in a transaction on Thursday, August 15th. The stock was purchased at an average cost of GBX 58 ($0.74) per share, for a total transaction of £300.44 ($383.61). Over the last three months, insiders acquired 1,044 shares of company stock worth $60,118. Company insiders own 35.44% of the company’s stock.

About ITM Power

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