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

ITM Power Plc (LON:ITM - Get Free Report)'s stock price was up 14.1% on Friday . The stock traded as high as GBX 58.50 ($0.79) and last traded at GBX 56.80 ($0.77). Approximately 9,401,504 shares traded hands during mid-day trading, an increase of 141% from the average daily 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 reissued a "hold" rating and set a GBX 59 ($0.80) price objective on shares of ITM Power in a research note on Thursday, May 8th.

ITM Power Price Performance

The company has a 50 day moving average of GBX 35.46 and a 200 day moving average of GBX 34.27. 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 firm has a market cap of £487.94 million, a price-to-earnings 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.