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

ITM Power Plc (LON:ITM - Get Free Report)'s stock price traded up 12.3% during trading on Tuesday . The stock 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).

Wall Street Analyst Weigh In

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

ITM Power Stock Performance

The stock has a market cap of £382.62 million, a PE ratio of -14.05 and a beta of 2.03. 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 company's 50-day moving average price is GBX 37.44 and its two-hundred day moving average price is GBX 34.85.

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.