ITM Power (LON:ITM) Sets New 12-Month Low – What’s Next?

ITM Power Plc (LON:ITM) hit a new 52-week low during mid-day trading on Wednesday . The stock traded as low as GBX 32.20 ($0.41) and last traded at GBX 34.50 ($0.44), with a volume of 1800714 shares trading hands. The stock had previously closed at GBX 33.66 ($0.43).

Wall Street Analysts Forecast Growth

Separately, Berenberg Bank decreased their price target on shares of ITM Power from GBX 60 ($0.76) to GBX 59 ($0.75) and set a “hold” rating for the company in a research report on Thursday, August 15th.

ITM Power Stock Performance

The company has a current ratio of 4.17, a quick ratio of 7.56 and a debt-to-equity ratio of 4.73. The company’s 50-day simple moving average is GBX 41.48 and its 200-day simple moving average is GBX 48.74. The stock has a market capitalization of £212.74 million, a price-to-earnings ratio of -850.00 and a beta of 2.03.

Insider Buying and Selling at ITM Power

In other news, insider Andy Allen acquired 658 shares of the firm’s stock in a transaction dated Tuesday, October 15th. The stock was bought at an average cost of GBX 46 ($0.58) per share, for a total transaction of £302.68 ($383.53). Also, insider Simon Bourne acquired 60,126 shares of the firm’s stock in a transaction dated Wednesday, October 30th. The shares were purchased at an average price of GBX 42 ($0.53) per share, with a total value of £25,252.92 ($31,998.12). In the last ninety days, insiders acquired 61,497 shares of company stock worth $2,585,637. 48.26% of the stock is currently owned by company insiders.

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. 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.