ITM Power (LON:ITM) Shares Up 18.4% - Time to Buy?

Shares of ITM Power Plc (LON:ITM - Get Free Report) traded up 18.4% on Saturday . The stock traded as high as GBX 75.20 ($1.02) and last traded at GBX 72.70 ($0.98). 13,991,459 shares traded hands during mid-day trading, an increase of 203% from the average session volume of 4,618,578 shares. The stock had previously closed at GBX 61.40 ($0.83).

Analysts Set New Price Targets

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

ITM Power Stock Down 10.3%

The company has a current ratio of 4.17, a quick ratio of 7.56 and a debt-to-equity ratio of 4.73. The stock has a market capitalization of £467.37 million, a P/E ratio of -17.16 and a beta of 2.03. The stock's 50 day simple moving average is GBX 41.07 and its 200 day simple moving average is GBX 35.90.

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.