Insider Buying: ITM Power Plc (LON:ITM) Insider Acquires 434 Shares of Stock

ITM Power Plc (LON:ITM) insider Dennis Schulz purchased 434 shares of the business’s stock in a transaction that occurred on Friday, February 14th. The stock was bought at an average price of GBX 35 ($0.44) per share, for a total transaction of £151.90 ($191.09).

ITM Power Stock Performance

Shares of ITM Power stock opened at GBX 34.93 ($0.44) on Monday. The stock has a market cap of £217.67 million, a price-to-earnings ratio of -7.99 and a beta of 2.03. The firm’s 50-day moving average is GBX 35.83 and its 200 day moving average is GBX 41.87. ITM Power Plc has a 1 year low of GBX 32.20 ($0.41) and a 1 year high of GBX 71.80 ($0.90). The company has a debt-to-equity ratio of 4.73, a current ratio of 4.17 and a quick ratio of 7.56.

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

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the stock. Jefferies Financial Group restated a “buy” rating and set a GBX 60 ($0.75) target price on shares of ITM Power in a report on Friday, December 6th. Royal Bank of Canada restated an “outperform” rating and set a GBX 70 ($0.88) target price on shares of ITM Power in a report on Friday, December 6th. Finally, Berenberg Bank restated a “hold” rating and set a GBX 59 ($0.74) target price on shares of ITM Power in a report 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.