ITM Power Plc (LON:ITM - Get Free Report) rose 19.7% during mid-day trading on Monday . The stock traded as high as GBX 42.85 ($0.56) and last traded at GBX 42.85 ($0.56). Approximately 10,742,647 shares traded hands during mid-day trading, an increase of 175% from the average daily volume of 3,907,366 shares. The stock had previously closed at GBX 35.80 ($0.47).
Wall Street Analyst Weigh In
Separately, Berenberg Bank reaffirmed a "hold" rating and set a GBX 59 ($0.78) target price on shares of ITM Power in a research note on Thursday.
Check Out Our Latest Stock Analysis on ITM
ITM Power Trading Up 19.7%
The company has a market capitalization of £267.03 million, a price-to-earnings ratio of -9.80 and a beta of 2.03. The firm has a 50-day moving average price of GBX 29.29 and a 200-day moving average price of GBX 33.43. The company has a current ratio of 4.17, a quick ratio of 7.56 and a debt-to-equity ratio of 4.73.
Insider Activity
In related news, insider Amy Grey bought 102,455 shares of the firm's stock in a transaction that occurred on Friday, February 28th. The shares were acquired at an average cost of GBX 29 ($0.38) per share, for a total transaction of £29,711.95 ($39,146.18). In the last ninety days, insiders have bought 103,937 shares of company stock worth $3,016,249. 48.26% of the stock is owned by company insiders.
ITM Power Company Profile
(
Get Free Report)
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.
Further Reading
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