ITM Power (LON:ITM) Trading Up 14.1% - Still a Buy?

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

Wall Street Analyst Weigh In

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

ITM Power Stock Up 22.7%

The company has a quick ratio of 7.56, a current ratio of 4.17 and a debt-to-equity ratio of 4.73. The company's fifty day simple moving average is GBX 36.48 and its 200 day simple moving average is GBX 34.57. The firm has a market capitalization of £487.94 million, a PE ratio of -17.91 and a beta of 2.03.

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.