ITM Power (LON:ITM) Stock Price Up 14.1% - Should You Buy?

ITM Power Plc (LON:ITM - Get Free Report)'s share price was up 14.1% on Saturday . The stock traded as high as GBX 58.50 ($0.79) and last traded at GBX 56.80 ($0.77). Approximately 9,401,504 shares were traded during mid-day trading, an increase of 141% from the average daily volume of 3,905,325 shares. The stock had previously closed at GBX 49.80 ($0.67).

Wall Street Analysts Forecast Growth

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

ITM Power Stock Performance

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 market cap of £469.06 million, a P/E ratio of -17.22 and a beta of 2.03. The firm's fifty day moving average price is GBX 36.48 and its 200 day moving average price is GBX 34.57.

About ITM Power

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.