ITM Power (LON:ITM) Shares Up 14.1% - Here's Why

ITM Power Plc (LON:ITM - Get Free Report) was up 14.1% during trading on Saturday . The stock traded as high as GBX 58.50 ($0.79) and last traded at GBX 56.80 ($0.76). 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 Ratings Changes

Separately, Berenberg Bank restated a "hold" rating and set a GBX 59 ($0.79) target price on shares of ITM Power in a research report on Thursday, May 8th.

ITM Power Price Performance

The company has a 50-day moving average price of GBX 34.76 and a 200-day moving average price of GBX 34.07. The firm has a market capitalization of £397.58 million, a P/E ratio of -14.59 and a beta of 2.03. 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.