ITM Power (LON:ITM) Trading 18.4% Higher - Time to Buy?

ITM Power Plc (LON:ITM - Get Free Report)'s share price was up 18.4% on Saturday . The company traded as high as GBX 75.20 ($1.02) and last traded at GBX 72.70 ($0.98). Approximately 13,991,459 shares were traded during trading, an increase of 203% from the average daily volume of 4,618,578 shares. The stock had previously closed at GBX 61.40 ($0.83).

Analyst Upgrades and Downgrades

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

ITM Power Stock Performance

The company's fifty day moving average is GBX 41.07 and its 200 day moving average is GBX 35.90. The company has a market capitalization of £467.37 million, a P/E ratio of -17.16 and a beta of 2.03. The company has a current ratio of 4.17, a quick ratio of 7.56 and a debt-to-equity ratio of 4.73.

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.