ITM Power (LON:ITM) Trading 18.4% Higher - Still a Buy?

ITM Power Plc (LON:ITM - Get Free Report)'s share price shot up 18.4% during mid-day trading on Saturday . The company traded as high as GBX 75.20 ($1.02) and last traded at GBX 72.70 ($0.98). 13,991,459 shares traded hands during trading, an increase of 203% from the average session volume of 4,618,578 shares. The stock had previously closed at GBX 61.40 ($0.83).

Analyst Upgrades and Downgrades

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

ITM Power Stock Down 10.3%

The business has a 50-day moving average price of GBX 41.07 and a 200-day moving average price of GBX 35.90. The company has a market capitalization of £467.37 million, a price-to-earnings ratio of -17.16 and a beta of 2.03. The company has a quick ratio of 7.56, a current ratio of 4.17 and a debt-to-equity ratio of 4.73.

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.