ITM Power (LON:ITM) Shares Up 14.1% - What's Next?

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

Wall Street Analysts Forecast Growth

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

ITM Power Price Performance

The company has a market capitalization of £353.96 million, a PE ratio of -12.99 and a beta of 2.03. 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 50 day moving average price of GBX 34.76 and a two-hundred day moving average price of GBX 34.08.

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.