ITM Power (LON:ITM) Trading Down 3.9% - Should You Sell?

ITM Power Plc (LON:ITM - Get Free Report) shares fell 3.9% on Thursday . The stock traded as low as GBX 67.30 ($0.91) and last traded at GBX 75.27 ($1.02). 38,237,453 shares traded hands during mid-day trading, an increase of 764% from the average session volume of 4,426,917 shares. The stock had previously closed at GBX 78.30 ($1.06).

Wall Street Analysts Forecast Growth

Separately, Berenberg Bank reaffirmed a "hold" rating and set a GBX 59 ($0.80) price objective on shares of ITM Power in a research note on Thursday, May 8th.

ITM Power Stock Down 9.8%

The company has a debt-to-equity ratio of 4.73, a quick ratio of 7.56 and a current ratio of 4.17. The firm's fifty day simple moving average is GBX 38.14 and its 200 day simple moving average is GBX 35.02. The stock has a market capitalization of £382.62 million, a price-to-earnings ratio of -14.05 and a beta of 2.03.

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.