ITM Power (LON:ITM) Shares Down 9.8% - Should You Sell?

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

Wall Street Analyst Weigh In

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

ITM Power Trading Up 16.8%

The firm has a market cap of £446.81 million, a PE ratio of -16.40 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. The stock's fifty day simple moving average is GBX 38.14 and its two-hundred day simple moving average is GBX 35.02.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.