ITM Power (LON:ITM) Insider Simon Bourne Buys 169 Shares of Company Stock

Key Points

• Insider Simon Bourne purchased 169 ITM Power shares at GBX 89 each, investing £150.41; he also bought 152 shares in September.
• ITM Power shares were trading at GBX 85.80, down 6.7%, while the company reported a quarterly loss of GBX 4 per share and a negative net margin of 57.26%.
• Analyst sentiment remains mixed, with two Buy ratings and three Hold ratings; price targets range from GBX 80 to GBX 200.

ITM Power Plc (LON:ITM - Get Free Report) insider Simon Bourne bought 169 shares of the firm's stock in a transaction dated Thursday, October 15th. The stock was purchased at an average price of GBX 89 per share, with a total value of £150.41.

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

• On Tuesday, September 15th, Simon Bourne purchased 152 shares of ITM Power stock. The stock was acquired at an average price of GBX 99 per share, for a total transaction of £150.48.

ITM Power Trading Down 6.7%

Shares of ITM opened at GBX 85.80 on Tuesday. The company has a market capitalization of £592.19 million, a P/E ratio of -17.16 and a beta of 2.82. ITM Power Plc has a one year low of GBX 57.90 and a one year high of GBX 219.80. The company has a debt-to-equity ratio of 5.87, a quick ratio of 7.56 and a current ratio of 2.73. The stock has a 50-day moving average price of GBX 101.65 and a 200 day moving average price of GBX 118.48.

ITM Power (LON:ITM - Get Free Report) last issued its quarterly earnings data on Monday, October 19th. The company reported GBX (4) earnings per share for the quarter. ITM Power had a negative net margin of 57.26% and a negative return on equity of 11.09%. Sell-side analysts forecast that ITM Power Plc will post -8.92 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. JPMorgan Chase & Co. increased their price objective on shares of ITM Power from GBX 60 to GBX 80 and gave the company a "neutral" rating in a research note on Wednesday, August 5th. Berenberg Bank reissued a "buy" rating and set a GBX 200 price objective on shares of ITM Power in a report on Monday, October 12th. Finally, Peel Hunt reissued a "hold" rating and issued a GBX 92 target price on shares of ITM Power in a research report on Thursday, October 8th. Two investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of GBX 4,086.40.

ITM Power Company Profile

ITM Power designs and manufactures industrial-scale electrolysers for green hydrogen production. Its proprietary PEM technology, vertically integrated manufacturing, and in-house engineering capabilities enable it to supply standardised, high-performance hydrogen plants. With a proven track record in large-scale projects, ITM Power helps leading industrial and energy companies achieve their decarbonisation goals. In addition to its equipment offering, the company provides reliable and cost-competitive hydrogen supply through its build, own and operate (BOO) model, Hydropulse. Headquartered in the UK, ITM Power is listed on the London Stock Exchange AIM LSE: ITM and holds the Green Economy Mark, which recognises companies that generate over 50% of their revenues from green products and services.

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