ITM Power (LON:ITM) Stock Price Up 15% - What's Next?

ITM Power Plc (LON:ITM - Get Free Report)'s stock price shot up 15% during mid-day trading on Tuesday . The company traded as high as GBX 83.60 ($1.13) and last traded at GBX 83.60 ($1.13). 9,977,290 shares were traded during mid-day trading, an increase of 114% from the average session volume of 4,667,740 shares. The stock had previously closed at GBX 72.70 ($0.99).

Analyst Upgrades and Downgrades

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 Trading Down 0.8%

The business has a 50-day simple moving average of GBX 43.91 and a two-hundred day simple moving average of GBX 36.71. The stock has a market cap of £452.42 million, a price-to-earnings ratio of -16.61 and a beta of 2.03. The company has a debt-to-equity ratio of 4.73, a current ratio of 4.17 and a quick ratio of 7.56.

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.