ITM Power (LON:ITM) Insider Buys £150.45 in Stock

Key Points

• Insider Simon Bourne acquired 177 shares of ITM Power at an average cost of GBX 85 per share, totaling £150.45, indicating insider confidence in the company's stock.
• ITM Power has a market cap of £484.98 million with a current P/E ratio of -1,063.64, and its shares have a 52-week range from GBX 25.08 to GBX 98.45.
• Analysts have a "Moderate Buy" average rating on ITM Power with an average target price of GBX 95, reflecting optimism about its future performance.

ITM Power Plc (LON:ITM - Get Free Report) insider Simon Bourne acquired 177 shares of the stock in a transaction dated Wednesday, October 15th. The stock was acquired at an average cost of GBX 85 per share, with a total value of £150.45.

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

• On Monday, September 15th, Simon Bourne acquired 235 shares of ITM Power stock. The stock was acquired at an average cost of GBX 64 per share, with a total value of £150.40.
• On Friday, August 15th, Simon Bourne acquired 224 shares of ITM Power stock. The stock was acquired at an average cost of GBX 67 per share, with a total value of £150.08.

ITM Power Price Performance

Shares of LON:ITM opened at GBX 78.71 on Friday. The company has a market cap of £484.98 million, a P/E ratio of -1,063.64 and a beta of 2.03. The company has a quick ratio of 7.56, a current ratio of 4.17 and a debt-to-equity ratio of 4.73. ITM Power Plc has a 52 week low of GBX 25.08 and a 52 week high of GBX 98.45. The business has a fifty day simple moving average of GBX 71.43 and a 200-day simple moving average of GBX 61.05.

ITM Power (LON:ITM - Get Free Report) last announced its quarterly earnings data on Thursday, August 14th. The company reported GBX (7.40) EPS for the quarter. ITM Power had a negative net margin of 164.90% and a negative return on equity of 9.97%. Equities research analysts forecast that ITM Power Plc will post -8.9214682 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. JPMorgan Chase & Co. reiterated a "neutral" rating on shares of ITM Power in a report on Monday, July 28th. Berenberg Bank reiterated a "buy" rating and issued a GBX 100 target price on shares of ITM Power in a report on Thursday, August 14th. Finally, Jefferies Financial Group lifted their target price on ITM Power from GBX 60 to GBX 115 and gave the company a "buy" rating in a report on Wednesday, October 1st. Three equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of GBX 95.

About ITM Power

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.

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