ITM Power (LON:ITM) Stock Price Up 14.1% - Here's What Happened

Shares of ITM Power Plc (LON:ITM - Get Free Report) were up 14.1% during trading on Saturday . The company traded as high as GBX 58.50 ($0.79) and last traded at GBX 56.80 ($0.77). Approximately 9,401,504 shares were traded 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).

Analyst Upgrades and Downgrades

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

ITM Power Trading Up 12.3%

The firm has a market cap of £397.58 million, a price-to-earnings ratio of -14.59 and a beta of 2.03. The business's 50 day moving average price is GBX 35.46 and its 200-day moving average price is GBX 34.27. The company has a debt-to-equity ratio of 4.73, a quick ratio of 7.56 and a current ratio of 4.17.

About ITM Power

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.