ITM Power (LON:ITM) Trading Down 9.8% - What's Next?

ITM Power Plc (LON:ITM - Get Free Report) shares were down 9.8% during mid-day trading on Thursday . The company traded as low as GBX 59.15 ($0.80) and last traded at GBX 61.40 ($0.83). Approximately 15,749,949 shares were traded during mid-day trading, an increase of 247% from the average daily volume of 4,532,740 shares. The stock had previously closed at GBX 68.10 ($0.92).

Wall Street Analysts Forecast Growth

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

ITM Power Price Performance

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 stock has a market capitalization of £520.97 million, a price-to-earnings ratio of -19.12 and a beta of 2.03. The company has a fifty day simple moving average of GBX 39.05 and a 200 day simple moving average of GBX 35.29.

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.