ITM Power (LON:ITM) Shares Up 14.1% - Should You Buy?

ITM Power Plc (LON:ITM - Get Free Report) shares rose 14.1% on Friday . The company traded as high as GBX 58.50 ($0.79) and last traded at GBX 56.80 ($0.76). Approximately 9,401,504 shares changed hands during mid-day trading, an increase of 141% from the average daily volume of 3,905,325 shares. The stock had previously closed at GBX 49.80 ($0.67).

Analysts Set New Price Targets

Separately, Berenberg Bank restated a "hold" rating and issued a GBX 59 ($0.79) price target on shares of ITM Power in a research note on Thursday, May 8th.

ITM Power Trading Up 14.1%

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 business has a fifty day simple moving average of GBX 34.76 and a 200 day simple moving average of GBX 34.07. The stock has a market capitalization of £353.96 million, a price-to-earnings ratio of -12.99 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.