ITM Power (LON:ITM) Trading 19.7% Higher - Should You Buy?

Shares of ITM Power Plc (LON:ITM - Get Free Report) traded up 19.7% during trading on Tuesday . The stock traded as high as GBX 42.85 ($0.57) and last traded at GBX 42.85 ($0.57). 10,742,647 shares were traded during mid-day trading, an increase of 175% from the average session volume of 3,907,366 shares. The stock had previously closed at GBX 35.80 ($0.48).

Wall Street Analysts Forecast Growth

Separately, Berenberg Bank reiterated a "hold" rating and issued a GBX 59 ($0.78) price objective on shares of ITM Power in a research note on Thursday, May 8th.

ITM Power Price Performance

The company has a debt-to-equity ratio of 4.73, a current ratio of 4.17 and a quick ratio of 7.56. The company's 50 day moving average is GBX 30.33 and its 200 day moving average is GBX 33.60. The stock has a market cap of £269.50 million, a price-to-earnings ratio of -9.89 and a beta of 2.03.

Insider Buying and Selling at ITM Power

In other ITM Power news, insider Amy Grey bought 102,455 shares of the company's stock in a transaction on Friday, February 28th. The stock was purchased at an average cost of GBX 29 ($0.39) per share, for a total transaction of £29,711.95 ($39,468.58). In the last three months, insiders acquired 103,503 shares of company stock worth $3,001,059. 48.26% of the stock is owned by corporate insiders.

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.