ITM Power (LON:ITM) Trading 12.3% Higher - What's Next?

ITM Power Plc (LON:ITM - Get Free Report) shares traded up 12.3% during trading on Monday . The company traded as high as GBX 67.90 ($0.92) and last traded at GBX 63.80 ($0.86). 13,053,060 shares traded hands during trading, an increase of 227% from the average session volume of 3,993,284 shares. The stock had previously closed at GBX 56.80 ($0.77).

Analysts Set New Price Targets

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

ITM Power Stock Down 3.9%

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 firm has a 50-day moving average price of GBX 36.48 and a two-hundred day moving average price of GBX 34.57. The firm has a market cap of £469.06 million, a price-to-earnings ratio of -17.22 and a beta of 2.03.

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.