ITM Power (LON:ITM) Stock Price Down 6.3% - What's Next?

ITM Power Plc (LON:ITM - Get Free Report) shares fell 6.3% during trading on Friday . The stock traded as low as GBX 73 ($0.99) and last traded at GBX 73.20 ($0.99). 4,206,881 shares traded hands during trading, a decline of 10% from the average session volume of 4,699,091 shares. The stock had previously closed at GBX 78.10 ($1.06).

Analysts Set New Price Targets

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

ITM Power Trading Down 0.8%

The business's 50 day simple moving average is GBX 43.01 and its 200 day simple moving average is GBX 36.45. The company has a debt-to-equity ratio of 4.73, a current ratio of 4.17 and a quick ratio of 7.56. The company has a market capitalization of £452.42 million, a price-to-earnings ratio of -16.61 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.