ITM Power (LON:ITM) Trading Up 15% - Should You Buy?

ITM Power Plc (LON:ITM - Get Free Report) shares were up 15% during mid-day trading on Tuesday . The company traded as high as GBX 83.60 ($1.13) and last traded at GBX 83.60 ($1.13). Approximately 9,977,290 shares traded hands during trading, an increase of 114% from the average daily volume of 4,667,740 shares. The stock had previously closed at GBX 72.70 ($0.99).

Analysts Set New Price Targets

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

ITM Power Stock Performance

The firm has a market capitalization of £452.42 million, a P/E ratio of -16.61 and a beta of 2.03. The firm has a 50-day moving average price of GBX 43.91 and a two-hundred day moving average price of GBX 36.71. The company has a debt-to-equity ratio of 4.73, a current ratio of 4.17 and a quick ratio of 7.56.

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.