ITM Power’s (ITM) Buy Rating Reaffirmed at Jefferies Financial Group

ITM Power (LON:ITM)‘s stock had its “buy” rating restated by research analysts at Jefferies Financial Group in a note issued to investors on Friday, Marketbeat Ratings reports. They currently have a GBX 60 ($0.77) target price on the stock. Jefferies Financial Group’s target price would indicate a potential upside of 69.88% from the company’s current price.

Other research analysts have also recently issued reports about the stock. Berenberg Bank reissued a “hold” rating and issued a GBX 59 ($0.75) price objective on shares of ITM Power in a research note on Thursday. Royal Bank of Canada reissued an “outperform” rating and set a GBX 70 ($0.89) target price on shares of ITM Power in a research report on Friday.

ITM Power Price Performance

Shares of LON ITM traded up GBX 0.68 ($0.01) during midday trading on Friday, reaching GBX 35.32 ($0.45). The company’s stock had a trading volume of 2,926,846 shares, compared to its average volume of 2,572,916. The company has a debt-to-equity ratio of 4.73, a quick ratio of 7.56 and a current ratio of 4.17. ITM Power has a fifty-two week low of GBX 32.20 ($0.41) and a fifty-two week high of GBX 71.80 ($0.92). The business’s 50 day moving average price is GBX 40.95 and its two-hundred day moving average price is GBX 48.54. The company has a market cap of £217.81 million, a P/E ratio of -883.00 and a beta of 2.03.

Insider Buying and Selling

In related news, insider Andy Allen bought 658 shares of ITM Power stock in a transaction on Tuesday, October 15th. The stock was acquired at an average price of GBX 46 ($0.59) per share, with a total value of £302.68 ($386.22). Also, insider Simon Bourne bought 60,126 shares of the firm’s stock in a transaction that occurred on Wednesday, October 30th. The shares were purchased at an average cost of GBX 42 ($0.54) per share, for a total transaction of £25,252.92 ($32,222.69). In the last ninety days, insiders have purchased 61,497 shares of company stock valued at $2,585,637. 48.26% of the stock is owned by 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.