Shares of ITM Power Plc (LON:ITM - Get Free Report) dropped 9.8% during trading on Thursday . The stock traded as low as GBX 59.15 ($0.80) and last traded at GBX 61.40 ($0.83). Approximately 15,749,949 shares were traded during mid-day trading, an increase of 247% from the average daily volume of 4,532,740 shares. The stock had previously closed at GBX 68.10 ($0.92).
Analysts Set New Price Targets
Separately, Berenberg Bank restated a "hold" rating and set a GBX 59 ($0.80) price objective on shares of ITM Power in a report on Thursday, May 8th.
View Our Latest Stock Analysis on ITM
ITM Power Price Performance
The company's 50-day moving average is GBX 37.44 and its 200-day moving average is GBX 34.85. The firm 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.
About ITM Power
(
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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.
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