ITM Power (LON:ITM) Trading Up 18.4% - Should You Buy?

ITM Power Plc (LON:ITM - Get Free Report) shares rose 18.4% during mid-day trading on Friday . The company traded as high as GBX 75.20 ($1.02) and last traded at GBX 72.70 ($0.99). Approximately 13,991,459 shares were traded during mid-day 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).

Wall Street Analysts Forecast Growth

Separately, Berenberg Bank reaffirmed a "hold" rating and issued 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 stock has a market capitalization of £520.97 million, a P/E ratio of -19.12 and a beta of 2.03. The stock has a 50 day moving average of GBX 40.14 and a 200 day moving average of GBX 35.63. The company has a debt-to-equity ratio of 4.73, a quick ratio of 7.56 and a current ratio of 4.17.

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.