ITM Power (LON:ITM) Trading Down 7.2% - Should You Sell?

ITM Power Plc (LON:ITM - Get Free Report) traded down 7.2% on Thursday . The stock traded as low as GBX 62.40 ($0.85) and last traded at GBX 63.20 ($0.86). 50,016,348 shares traded hands during trading, an increase of 931% from the average session volume of 4,852,987 shares. The stock had previously closed at GBX 68.10 ($0.92).

Wall Street Analysts Forecast Growth

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

ITM Power Stock Down 9.8%

The firm's fifty day moving average price is GBX 38.14 and its 200-day moving average price is GBX 35.02. The company has a market capitalization of £382.62 million, a price-to-earnings ratio of -14.05 and a beta of 2.03. The company has a debt-to-equity ratio of 4.73, a current ratio of 4.17 and a quick ratio of 7.56.

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.